Yesterday a rumor surfaced suggesting that Sony was interested in buying out Take-Two Interactive. If true, this would be a game-changing move, and Take-Two's stock jumped around 5% yesterday. However, there was never a solid source on the story beyond "market chatter" commented on by investment firms.
So is there any fire behind the smoke? Take-Two Interactive declined to comment yesterday, but today Sony has stepped forward to squash the rumor. A Sony spokesperson stated, "We do not know where the rumor is coming from, but there is no such plan" in response to Venture Beat's inquiries. Currently, Take-Two's stock is down 3.75% after yesterday's spike.
Source: Venture Beat