Could Sony Interactive Entertainment be buying out Take-Two Interactive? Well, after rumours spread online that Sony was on the verge of closing a deal to acquire Take-Two Interactive, news spread like wildfire.
It first started from a MarketWatch report on the US Stock Market that headlines concerns over Brexit and the impact of the recently-announced decision to ground all Boeing 737 Max 8 planes after the devastating Ethiopian Air crash. The market report listed various stock drawing attention to one particular note regarding Take-Two Interactive.
“Take-Two Interactive Software stock climbed 4.7% on rumors that Sony Corp. ‘is in advanced board level discussions to acquire Take-Two Interactive in a mostly cash deal,’ that would value the company at $130 share, according to Joel Kulina, head of technology and media trading at Wedbush Securities.”
According to the above, Sony was on the brink of purchasing Take-Two but it seems that this is not actually the case. According to Joel Kulina, head of technology and media trading, the entire story is just pure speculation.
“This is purely unconfirmed market speculation that is making the rounds,” he said. “I am not the source of this story in any regard. And not sure who quoted me as I didn’t speak with anyone over the phone (unless someone saw a trading note that I wrote).”
Joel claims that the stock shot up at the start of trade today but it was not related to these ongoing rumours as it happened before he sent the email about the speculation. However, this news must come from somewhere so the rumour that Sony could be buying Take-Two out at $130 per share is not off the table just yet. There is, unfortunately, no accurate source to confirm the credibility of the claims and no way to guarantee that the rumour stems from an accurate place.