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Take-Two to buy FarmVille maker Zynga in deal valued at $12.7 billion -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Zynga logo was pictured in San Francisco on April 23, 2014. REUTERS/Robert Galbraith

(Reuters) – Take-Two, a video game developer (NASDAQ) Interactive Software Inc is buying mobile gamer Zynga Inc (NASDAQ) in a cash-and-stock transaction with an enterprise value close to $12.7 billion. The companies announced Monday.

Take-Two announced that it will acquire all Zynga shares at $9.86 each share. Zynga shares rose by 40.2%, to $8.89 before Monday’s bell.

Zynga last closed at 64.4%, so the price represents an increase of 64.4%. According to Reuters calculations, the equity value is $11.04 trillion.

It is anticipated that the deal will close before June ends.

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