“Take-Two Interactive Software stock climbed 4.7% on rumors that Sony Corp. ‘is in advanced board level discussions to acquire Take-Two Interactive in a mostly cash deal,’ that would value the company at $130 share, according to Joel Kulina, head of technology and media trading at Wedbush Securities,” a report from Market Watch originally read.
GamesIndustry.biz has since spoken to Kulina, who has distanced himself from the comment attributed to him.
“This is purely unconfirmed market speculation that is making the rounds,” Kulina said. “I am not the source of this story in any regard. And not sure who quoted me as I didn’t speak with anyone over the phone (unless someone saw a trading note that I wrote).”
Bizarrely, the duo who wrote Market Watch’s original report have distanced themselves from it as well, confirming that Kulina’s comment was the only source they’d heard the rumour from.
“The stock shot up at the start of trade today to lead the S&P 500 and I was simply looking for plausible explanations,” Matthews told GamesIndustry. “Joel’s in a good position to know what’s moving individual tech stocks, even if they are just rumors. In terms of timing, [Take-Two] stock was well up before his email went out, so it was not his dissemination of the rumor that sparked the move.”
We’ll highly doubtful that Sony’s in the process of buying Take-Two, but we’ll keep you informed as we learn more. Sony has declined to comment on the rumour