Take-Two: No Alternatives Before Meeting

Video-game publisher Take-Two(TTWO Quote) says it is unlikely to present any alternatives before the company's annual meeting on March 29 to the move by a group of its largest shareholders to change its current management.

Take-Two has already postponed its annual shareholder meeting once, from March 23 to March 29. The company then said it was considering alternatives, including a possible sale.

Shares of Take-Two were up 13 cents, or 0.5%, to $22.39 in extended trading Monday.

Take-Two faces a revolt by a large bloc of shareholders comprising OppenheimerFunds, D.E. Shaw Valence Portfolios, S.A.C. Capital Management and Tudor Investment.

The group is gunning to remove company CEO Paul Eibeler and change the slate of the board of directors. New York-based Take-Two says it is continuing to have discussions with representatives of the shareholder group.