Video-games publisher Take-Two Interactive(TTWO Quote) lost 54 cents, or 2.2%, to $23.80 on concerns whether Electronic Arts(ERTS Quote) will actually acquire the company. EA has offered $25.74 a share for Take-Two, but the bid has been rejected by the latter on the belief that it undervalues the company. EA made its bid for Take-Two in February and currently has a tender offer open for Take-Two shares. Meanwhile, hedge fund SAC Capital reported Wednesday that it had cut its stake in Take-Two to 4.4% from 5.3%.
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