A bombshell report that Sony could potentially be in talks to acquire Take-Two Interactive set the internet abuzz with all sorts of speculation. A report from MarketWatch indicates that Joel Kulina, head of technology and media trading over at Wedbush Securities, claimed Sony is aiming to buy the giant games publisher.
Take-Two Interactive Software TTWO, -0.24% shares jumped 6.9%, its best day since October 2018. Joel Kulina, head of technology and media trading at Wedbush Securities, referenced rumors about potential takeover interest from Sony Corp. SNE, +0.26% in a note to clients.
That’s all well and good, and many began wondering about the possibilities of a PlayStation exclusive Grand Theft Auto title among so many others. Then Games Industry reached out to Mr. Kulina for clarification and received a different response. This is what he had to say:
“This is purely unconfirmed market speculation that is making the rounds. I am not the source of this story in any regard. And not sure who quoted me as I didn’t speak with anyone over the phone (unless someone saw a trading note that I wrote).”
So which is it? If Kulina didn’t state this was he misquoted? Or is there more to the MarketWatch report that we don’t know about? What is clear is that Kulina did release a note stating, “TTWO M&A CHATTER MAKING ROUNDS… +2.5% – NO SOURCE **UNCONFIRMED**” according to Games Industry. M&A stands for “Merger and Acquisition” for those who are unaware of the terminology. Whatever is afoot –even if this was purely conjecture from the start — will surely be verified in due time.
What do you think? Would you like to believe a deal is being made behind the scenes? Or do you think this might be detrimental to the games industry as a whole? Or maybe, this is a whole lot of smoke and there’s really nothing here. Let us know your thoughts in the comments section below!