New Take Two shareholders to push up EA offer?

Many of publisher’s long term investors have sold stock to demanding market players in last month

EA’s ‘hostile’ bid for Take Two may hit a snag when it comes to approaching individual shareholders – because many are experienced short-term investors that believe they can push the publisher’s offer skywards.

That’s according to the New York Times, which reports that ‘there has been a considerable turnover in ownership of Take Two’ in the last month.

‘Gone are many long-term shareholders, the newspaper continues, ‘who have given way to a group of investors willing to risk that the buyout will provide quick profit.’

The NYT adds that there has been ‘unusually high trading volume’ in Take Two’s stock Since Electronic Arts first made public its interest in acquiring Take Two for $2 billion last month – with a particualrly aggressive approach.

Since then, Take Two has rejected the deal, calling it "inadequate".