Zynga shareholders will receive $3.50 in cash and $6.36 in shares of Take-Two common stock for each share of Zynga outstanding stock at closing. The transaction is valued at $9.86 per share of Zynga common stock.
Take-Two anticipates the deal will help bring about mobile versions of some of its console and personal computer based games. Zynga CEO Frank Gibeau and its president of publishing, Bernard Kim, will oversee the integration and day-to-day operations of the combined Zynga and T2 Mobile Games business, which will operate under the Zynga brand as its own label within the Take-Two.
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