Zynga to Be Acquired by Take-Two for $12.7 Billion. Zynga Stock Is Soaring.

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A cyclist rides past Zynga headquarters.

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Justin Sullivan/Getty Images

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Shares of gaming services company Zynga were rising in premarket trading following news that it would be acquired by Take-Two Interactive in a cash-and-stock deal with an enterprise value of $12.7 billion.

Shares of Zynga (ticker: ZNGA) jumped 46.3% to $8.82, while Take-Two (TTWO) fell 8.4% to $150.84.

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Under the terms of the deal, Zynga shareholders will receive $8.50 in cash and $6.36 in stock upon closing of the transaction, for a total of $9.86 per Zynga share. The purchase price is a 64% premium to Zynga’s closing price on January 7.

Strauss Zelnick, Chairman and CEO of Take-Two, said, “We are thrilled to announce our transformational transaction with Zynga, which significantly diversifies our business and establishes our leadership position in mobile, which is an interactive The fastest growing segment of the entertainment industry.”

Write to Sabrina Escobar at [email protected]

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