Zynga soars 54% on Take-Two deal to buy the Farmville creator for $12.7 billion

"Farmville 2: Country Escape" is a game by the company.

It's on the iTunes store.

The social games maker's stock soared more than 50% on Monday after Take-Two Interactive agreed to buy it for $12.7 billion in cash and stock.
Take-Two will pay $9.86 per share, which includes $3.50 in cash and $6.36 in Take-Two common stock, the companies said in a joint statement. At the close of January 7, the share price of the company was at a premium.
The deal is expected to close by the end of June, which would be Take-Two's first quarter of fiscal year 2023.
Before Monday's opening, the company jumped as much as 50% to $9.21. The stock has been down by about six percent. Take-Two shares were down by more than 10% before the opening bell.
The company's titles include "Zynga Poker," "Harry Potter: Puzzles & Spells" and "Words With Friends." The company is merging with the publisher of "NBA 2K," "BioShock" and "Red Dead Redemption."
"This strategic combination brings together our best-in-class console and PC franchises, with a market-leading, diversified mobile publishing platform that has a rich history of innovation and creativity," said Take-Two's chairman and CEO, in the statement.

He said the deal will deliver significant value to shareholders in Take-Two and in Zynga, including $100 million of annual cost synergies within the first two years of the deal closing, and the potential of at least $500 million of annual net bookings over time.
Business Insider has an original article.