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Financial News: Zynga purchase explodes stock

Financial News:

Zynga purchase explodes stock

Zynga

Take-Two Interactive, the company behind Rockstar Games' Grand Theft Auto games, is buying Zynga, a mobile social game producer, for $12.7 billion.

Take-Two Interactive Software, based in New York, is buying Zynga for $9.861 per share, a 64 percent premium over the company's closing share price on January 7. Take-Two will pay $3.50 in cash and $6.361 in Take-Two common stock for each share of Grand Theft Auto V and Red Dead Redemption 2.

Photo: Zynga Inc. is an American social game developer running social video game services and founded in April 2007 with headquarters in San Francisco, California, United States. The company primarily focuses on mobile and social networking platforms. Zynga states its mission as "connecting the world through games."

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    Content ID: 1641823282 Created Monday, January 10, 2022 2:01 PM UTC by Aaron Stipkovich, Updated Monday, January 10, 2022 2:09 PM UTC by Aaron Stipkovich.