Monday, March 19, 2007

Activist Updates: ABN AMRO (ABN) and Take-Two Interactive (TTWO)

Updates on a couple of activist situations:

ABN AMRO Holding (NYSE: ABN) is higher today on reports from the Times of London that Barclays PLC has hired advisors in an attempt to buy the rival bank. ABN AMRO is an activst target of The Children's Investment Fund, which recently urged the company to actively pursue the potential break up, spin-off, sale or merger of its various businesses (or as a whole).

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) is higher after the company said it postponed its annual meeting, saying it needs additional time to review the proposed actions of an activist shareholder group and also to evaluate alternative courses of actions that could potentially be presented to the shareholders, including a possible sale of the Company. Recently, the shareholder group of SAC Capital, OppenheimerFunds, D. E. Shaw and Tudor Investment said they will vote to elect six members to the board of directors and vote to reduce the size of the Board from nine to six.

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