Why Take-Two Interactive Software's Shares Rose on Tuesday
It's been a rough year for Take-Two Interactive (NASDAQ: TTWO), whose stock is down 25.9% in the last 12 months. But shares had a nice recovery on Tuesday, climbing as much as 3.2% in trading before falling back to a 1.1% gain at 11:30 a.m. ET.
Last week, shares jumped on gossip that Sony (NYSE: SONY) might be interested in buying the video game company. While that's still a rumor, there was some positive news on the buyout front when it was reported that the European Union appears willing to clear Microsoft's (NASDAQ: MSFT) acquisition of Activision Blizzard (NASDAQ: ATVI).
If the Microsoft/Activision Blizzard deal does go through, it could pave the way for other mergers in gaming. Take-Two Interactive would be a likely target, and even a small reduction in regulatory pushback would be good news.
Source Fool.com
