Take-Two Postpones Annual Meeting As It Considers Sale

Video game publisher Take-Two Interactive Software postponed its annual meeting until March 29 in order to provide it with time to evaluate strategies proposed by a shareholder group and other options, including a potential sale.

Take Two shares were recently up 8.7%, or $1.80, at $22.65 on the news.

The meeting was previously scheduled for March 23. The record date for the annual meeting will remain Feb. 26.

Earlier this month, investors owning about 45% of its shares indicated it wanted to take control of the board and oust Chief Executive Paul Eibeler. The shareholder group includes Oppenheimer Funds and D.E. Shaw & Co.