Activist investor Carl Icahn raised his stake in video game publisher
Take-Two Interactive Software Inc to 10.6 percent from 9.5 percent,
according to a regulatory filing on Thursday.
This is the second time in a week that Icahn has scooped up stock in Take-Two.
Shares of the company rose 2.8 percent to $11.17 in morning trade on Thursday.
seems like his buying is a vote of confidence in the pipeline of the
company," said Sterne Agee analyst Arvind Bhatia. The next edition of
its popular "Grand Theft Auto" video game is due out next year.
Take-Two has long been considered a potential acquisition target Electronic Arts Inc made moves to buy it in 2008.
Icahn recently took a 10 percent stake in Netflix Inc because he
believes the streaming video and DVD rental company is undervalued and
an attractive acquisition target.
© Thomson Reuters 2012