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Take-Two Interactive Up for Sale?

by Rainier on March 19, 2007 @ 10:02 a.m. PDT

Take-Two announced that it has postponed its annual meeting. The purposes of the Board's actions are to provide additional time to review the proposed actions of the shareholder group and also to evaluate alternative courses of actions that could potentially be presented to the shareholders, including a possible sale.

Take-Two Interactive Software announced today that the Company has postponed its annual meeting scheduled for March 23, 2007 until March 29, 2007. The meeting will be held at a time and location to be designated in a revised Notice of Meeting, to be issued later today. The current record date of February 26, 2007 for the annual meeting remains unchanged.

The Company also announced that, in light of the expressed intention of a shareholder group to act by written consent under certain circumstances, the Board of Directors has set a record date of the close of business on March 29, 2007 for the purpose of determining the shareholders entitled to act by written consent.

The purposes of the Board's actions are to provide additional time to review the proposed actions of the shareholder group and also to evaluate alternative courses of actions that could potentially be presented to the shareholders, including a possible sale of the Company. An additional objective of the Board is that shareholders, including the shareholder group, not take any action that would preclude an evaluation of any alternative that the Company might develop and that could potentially be presented to shareholders. There is no assurance that any specific alternative proposal will be forthcoming.

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