ZNGA - Zynga Take-Two holders approve combination; set to close Monday

Shareholders for Zynga (NASDAQ:ZNGA) and Take-Two Interactive Software (NASDAQ:TTWO) have approved the pending acquisition of Zynga by Take-Two, at a pair of special meetings Thursday. That means the closing is set for the morning of May 23. Shares of Zynga will stop trading after the market close Friday, May 20, and will delist from Nasdaq. Zynga stock (ZNGA) is up 1.1% to $8.55. The terms of the merger deal mean that Zynga stockholders will be entitled at closing to $3.50 in cash and 0.0406 shares of Take-Two common stock for each share of Zynga owned. Take-Two stock (TTWO) is up 1.6%. “I thank our stockholders for their support of this transaction, which will create an unparalleled portfolio that reaches massive audiences across key platforms, genres, and territories," says Zynga CEO Frank Gibeau. "We believe that our combination with Zynga will be transformative for our company as we create a powerful and diverse portfolio

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Zynga, Take-Two holders approve combination; set to close Monday