Video games: Take-Two to buy Zynga, a $12.7 billion deal

Photo credit © Reuters

(Reuters) – U.S. video game publisher Take-Two Interactive Software is to buy mobile game specialist Zynga, creator of FarmVille among others, based on an overall valuation of nearly $12.7 billion ( 11.2 billion euros), debts included, announced the two groups on Monday.

Take-Two specifies that it will buy back all of the Zynga shares at a unit price of 9.86 dollars.

In pre-market trading on Wall Street, Zynga stock gained more than 40% to 8.89 dollars.

The price offered by Take-Two is 64.4% higher than Zynga’s closing price on Friday.

The purchase offer represents an amount of 11.04 billion dollars according to calculations by Reuters.

The operation, which Take-Two plans to pay in securities and cash, should be completed by the end of June.

(Report Nivedita Balu and Eva Mathews, French version Marc Angrand, edited by Blandine Hénault)

click here for restriction
© 2022 Reuters

Source link -87

Leave a Reply