Zynga (NASDAQ: ZNGA) received a US$12.7bn takeover bid from Take-Two Interactive.
Zynga (NASDAQ: ZNGA) received a takeover offer from Take-Two Interactive in a cash-and-stock deal worth US$12.7bn. Following the completion of the acquisition, Zynga shareholders will receive US$3.50 in cash and US$6.36 in Take-Two stock for each Zynga share owned. Take-Two CEO Strauss Zelnick said ‘this strategic combination brings together our best-in-class console and PC franchises, with a market-leading, diversified mobile publishing platform that has a rich history of innovation and creativity’.
Zynga shares traded 40.67% higher at US$8.44/share following the announcement.
Take-Two Interactive shares traded 13.13% lower at US$142.99/share following the announcement.
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