Take-Two buys back 12.02 million shares from Icahn Group
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Take-Two has repurchased 12.02 million shares in its company back from Icahn Group. The firm dished out $203.5 million to repurchase the stock. "This share repurchase reflects our confidence in the Company's outlook for record results in fiscal 2014 and continued Non-GAAP profitability every year for the foreseeable future," said CEO Strauss Zelnick. A reason for the sale of the shares was not provided, and Icahn's Brett Icahn, Jim Nelson, and SungHwan Cho have resigned from the Take-Two board.