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.

SAC Capital, OppenheimerFunds and Others Form Large Take-Two (TTWO) Investors Group, To Nominate 6 to Board

In a 13D filing on Take-Two Interactive Software Inc. (Nasdaq: TTWO), SAC Capital, OppenheimerFunds, D. E. Shaw, Tudor Investment formed a group and said they will vote to elect six members to the board of directors. The group will also vote to reduce the size of the Board from nine to six.

OppenheimerFunds disclosed a 24.5% stake, D. E. Shaw a 9% stake, SAC Capital a 7.8% stake and Tudor a 4.8% stake.

The Group's director candidates are currently expected to be Strauss Zelnick, Benjamin Feder, Jon J. Moses, Michael Dornemann, Michael James Sheresky and a sixth person who will be identified in an amendment to this Schedule 13D.