Benchmark Talks of Activision Bid for Take Two Sends Shares Higher

In a note out today, Benchmark analyst Mike Hickey makes a case for Activision ATVI preparing to acquire Take-Two Interactive TTWO. According to Mr. Hickey, "For Activision, acquiring Take-Two Interactive would be a no brainer, in our view, circling some of the strongest development talent and owned IP in the world, within a Company that has nearly $1 billion in cash and trades at a comparably lower multiple." In 2008, Electronic ArtsEA had attempted, but ultimately failed, to acquire Take-Two Interactive for $26 per share. Shares of TTWO are trading up 4.14 percent at 23.39, while shares of ATVI are slightly higher at 23.45.