Take-Two to buy 'FarmVille' maker Zynga for $11 billion in largest gaming deal

video game maker Take-Two Interactive said on Monday, January 10, it would buy Zynga for $11.04 billion in a cash-and-stock deal that will add popular mobile titles such asThe deal, the largest ever in the sector, will create a gaming powerhouse with a market cap of nearly $30 billion, spanning console, PC and mobile devices at a time that more people are gaming on their smartphones., offered $3.50 in cash and $6.361 in shares for each Zynga share, a 64% premium to the last closing price.

Zynga shares surged 45% on Monday, but were still a dollar and change short of the offer price, while Take-Two fell about 15%. The latest round of negotiation came late last year, as Zynga shed more than a third of its market value, the biggest drop among major game publishers. Zynga has reeled from falling engagement levels and Apple’s move to allow iPhone users to opt out of being tracked by advertisers.

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