SAC Capital's interest in Take-Two Interactive slips below 5%

By Lisa Kerner

Charlotte, N.C., July 2 - Take-Two Interactive, Inc. investors led by SAC Capital Advisors, LLC decreased their interest in the company to 4.4%, from 5.3% on June 25, with the sale of 35,255 shares.

According to a schedule 13D filing with the Securities and Exchange Commission, the shares were sold between June 25 and July 1 and priced from $25.00 to $25.99 each.

SAC Capital and its affiliates beneficially own 3,377,673 shares of the New York-based interactive entertainment software company.

It was previously reported that Electronic Arts Inc. extended its tender offer for Take-Two Interactive to 11:59 p.m. ET on July 18 from June 16 at the same offer price of $25.74 per share in order to allow the Federal Trade Commission review process to continue.

The Redwood City, Calif., entertainment software company had extended the offer to June 16 from May 16, it was previously reported.

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