Stocks On The Move: Take-Two Interactive jumps after acquiring mobile developer Playdots
In this article:
Yahoo Finance's Adam Shapiro breaks down what's moving the world of finance.
Video Transcript
ADAM SHAPIRO: As we head to break, I want to take a look at another stock that's on the move-- Take-Two Interactive. They had been trading higher at the opening bell, but they're now essentially flat, a little bit negative. Here's what's going on-- Take-Two announced this morning that it is actually buying, or acquiring, the privately-held mobile game platform Playdots.
It's $192 million deal-- $90 million in cash. The rest is going to be in new shares of Take-Two common stock. And when you look at this stock, the 52-week range $100 to $180 a share, it is not far from its high.
