Take-Two, Elevation Discussing Buyout
Date: Monday, February 06 @ 16:54:48 UTC
Topic: Off Topic
Elevation Partners, which includes U2 singer Bono as a partner, was recently in the news for acquiring Pandemic Studios and BioWare into a single company. The goal of the team up is to empower developers with more control over the games, but the private-equity firm may not be stopping there.
The New York Post reports they're currently eyeing Take-Two Interactive for a buyout. The controversial publisher has run into trouble lately with reports of cash being burned at an increasingly rapid rate, and if Elevation Partners was truly interested, they could be looking at a deal worth over $1 billion including debt.
Considering how much revenue the Grand Theft Auto series brings in, $1 billion might not be much of a hurdle, but regulators investing the company for potential wrongdoing because of the company's reported habit of restating earnings. Nothing's been discovered yet, but the results could sway who - if anyone - ultimately picks up Take-Two.
Elevations Partners isn't the only firm supposedly interested in picking up Take-Two, but so far they're the only one whose interest has leaked to the press.
News-Source: http://xbox.1up.com
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