Take-Two redeems stockholders rights

By Lisa Kerner

Charlotte, N.C., Sept. 22 - Take-Two Interactive Software, Inc.'s board of directors redeemed its stockholders rights on Friday.

Effectively immediately, the holders of rights have no further rights other than to receive a redemption payment of $0.0001 per right, it was reported in a form 8-K filed with the Securities and Exchange Commission.

One right is attached to each outstanding share of common stock.

The redemption payment will be paid to stockholders of record as of the close of business on Sept. 29, the New York-based interactive entertainment software company said in the filing.

With the redemption, the rights agreement is terminated.

Take-Two's board of directors adopted the stockholders rights plan on March 24 and committed to redeeming the rights in 180 days.

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