Steve Petrucelli
Take-Two, which owns the rights to the game GTA, has agreed to buy developer Zynga, known for mobile games such as FarmVille and Words With Friends, for $12.7bn.
The deal is expected to close between April and June and will be paid for in cash and shares. Zynga shareholders will be compensated about $9.86 for each share of the company they own, including $3.5 in cash and $6.36 in Take-Two shares.
That's about 64% more than Zynga's share price at the close of trading on Friday, January 7, notes The Wall Street Journal. Zynga's securities were $6 flat at the close that day, up nearly 50% at Monday's pre-market.
source: bloomberg.com
The deal is expected to close between April and June and will be paid for in cash and shares. Zynga shareholders will be compensated about $9.86 for each share of the company they own, including $3.5 in cash and $6.36 in Take-Two shares.
That's about 64% more than Zynga's share price at the close of trading on Friday, January 7, notes The Wall Street Journal. Zynga's securities were $6 flat at the close that day, up nearly 50% at Monday's pre-market.
source: bloomberg.com
