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Take-Two (TTWO -5.1%) opens lower after announcing a debt refinancing move. The game developer...

Take-Two (TTWO -5.1%) opens lower after announcing a debt refinancing move. The game developer is selling $250M worth of convertible senior notes due 2018, and will use up to $166M of the proceeds to redeem 4.375% convertible senior notes due 2014 (and thereby avoid conversion/share dilution). Wedbush suggested yesterday Take-Two is planning a redemption, as shares rallied following the cancellation of investor meetings. (prospectus)
Comments (2)
  • Bivus
    , contributor
    Comments (60) | Send Message
     
    Isn't this a good move on the company's part, why are investors dumping the shares?
    12 Jun 2013, 11:24 AM Reply Like
  • Rjlv6
    , contributor
    Comments (48) | Send Message
     
    Is there any good reason for this move what do you think the money is going to be used for?
    12 Jun 2013, 02:54 PM Reply Like
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