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Videogame maker Take-Two Interactive Software will acquire mobile game maker Zynga in a cash-and-stock deal at an enterprise value of nearly $12.7-billion, the companies said on Monday.
Take-Two said it would acquire all the outstanding shares of Zynga at US$9.86/share. Shares of Zynga rose 40.2% to $8.89 in trading before markets opened in the US on Monday.
The price represents a premium of 64.4% to Zynga’s last close. The equity value of the deal is an estimated $11-billion.
The deal is expected to close by the end of June. — Nivedita Balu and Eva Mathews, (c) 2022 Reters
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