Take-Two stock down in wake of Zynga purchase, Zelnick not bothered

Take-Two boss Strauss Zelnick appeared on CNBC to talk about his company’s stock following the $12.7 billion Zynga acquisition. Take-Two purchased Zynga at a price of $9.86/share in a cash and stock deal. The purchase turned Take-Two into one of the largest gaming publishers in the games industry.

“Without regard to any revenue synergies we expect the combined company to grow its top line about 14% annually for the next three years,” Zelnick told CNBC. “We’re building this company for the long term, and that’s always been our approach.”