Take-Two shares plummet
More business related nonsense this afternoon, as we learn that Take-Two's share value has dropped by 30% after Electronic Arts announced that talks to takeover the firm had been ceased.
Experts now predict Take-Two shares will sink back to pre-offer levels. EA had offered in the region of 26 USD per share, while shares fell back to 15.45 USD in today's trading.
Outspoken analyst Michael Pachter's new target for the company is down to 16.50 from 26 USD now, the industry soothsayer offering: "Notwithstanding significantly better than expected Q3 results, we continue to question the sustainability of earnings, and wonder about the potential for a 'bidding war' to attract several key employees."
More Take-Two news as we get it.