Take-Two to Buy Zynga in $11 Billion Mobile Gaming Deal (2)

Take-Two Interactive Software Inc. said it will buy mobile game maker Zynga Inc. in a deal valued at $11 billion, a costly purchase intended to help the publisher of Grand Theft Auto break into the fast-growing market for smartphone games.

The offer for San Francisco-based Zynga is $3.50 in cash and $6.36 in Take-Two equity, the companies said in a statement Monday. The transaction amounts to an offer of $9.86 per share, representing a 64% premium to Zynga’s closing share price on Friday. The companies said the deal’s enterprise value is $12.7 billion, including debt. Shares of Take-Two fell as ...