On November 26, 2013, Take-Two Interactive Software, Inc. entered into a Purchase Agreement with High River Limited Partnership, Icahn Partners LP, Icahn Partners Master Fund LP, Icahn Partners Master Fund II LP and Icahn Partners Master Fund III LP, pursuant to which the Company agreed to repurchase 12,020,744 shares of the Company's common stock owned by the Icahn Group, at a price per share of $16.93, resulting in an aggregate purchase price of $203,511,195.92.

The closing of the Repurchase Transaction occurred on November 26, 2013. The Repurchase Transaction was approved by the Company's Board of Directors following the recommendation of a committee comprised solely of directors not affiliated with the Icahn Group and was funded using available cash and cash equivalents on hand.