Technology

Take-Two Interactive to buy FarmVille creator Zynga for $12.7 billion

Take-Two Interactive says it is buying mobile gaming company Zynga for $12.7 billion with a mix of cash and stock, marking the latest blockbuster acquisition in a string of major deals in the video game industry. The company announced Monday that it would acquire all outstanding shares of Zynga at $9.86 apiece, a 64% premium to Zynga’s closing price Friday. Zynga’s stock skyrocketed 45% in morning trading Monday, while Take-Two slumped more than 13%. Take-Two said Zynga shareholders will receive $3.50 in cash and $6.36 in Take-Two stock for each share of Zynga outstanding at the closing of the transaction. The deal, which is subject to regulatory and shareholder approvals, is expected to close by June 30, 2022.

Read more : Take-Two Interactive to buy FarmVille creator Zynga for $12.7 billion.

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