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- Shareholders for Zynga (NASDAQ:ZNGA) and Take-Two Interactive Software (NASDAQ:TTWO) have approved the pending acquisition of Zynga by Take-Two, at a pair of special meetings Thursday.
- That means the closing is set for the morning of May 23.
- Shares of Zynga will stop trading after the market close Friday, May 20, and will delist from Nasdaq.
- Zynga stock (ZNGA) is up 1.1% to $8.55. The terms of the merger deal mean that Zynga stockholders will be entitled at closing to $3.50 in cash and 0.0406 shares of Take-Two common stock for each share of Zynga owned.
- Take-Two stock (TTWO) is up 1.6%.
- “I thank our stockholders for their support of this transaction, which will create an unparalleled portfolio that reaches massive audiences across key platforms, genres, and territories," says Zynga CEO Frank Gibeau.
- "We believe that our combination with Zynga will be transformative for our company as we create a powerful and diverse portfolio of industry-leading titles, while also becoming a leader in mobile games," says Take-Two CEO Strauss Zelnick.
