Take-Two to buy back all of Icahn's shares, directors to resign

Reuters

NEW YORK, Nov 26 (Reuters) - Take-Two Interactive SoftwareInc on Tuesday said it is buying back all of CarlIcahn's shares in the company, and three directors nominated bythe activist investor have resigned.

The video game publisher said it will pay the $203.5 millionpurchase price for the 12.02 million shares it bought from cashand cash equivalents on hand.

The company said Brett Icahn, Jim Nelson and SungHwan Choleft the board. Icahn and Take-Two had agreed several years agothat if the billionaire investor sold his position, his boarddesignees would resign.

(Reporting by Sinead Carew; Editing by Gerald E. McCormick)

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