UNITED STATES
SECURITIES EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
TAKE-TWO INTERACTIVE SOFTWARE, INC.
-----------------------------------
(Name of Issuer)
Common Stock, $.01 par value per share
-------------------------------------------------
(Title of Class of Securities)
874054109
-------------------
(CUSIP Number)
Mark Horowitz
General Counsel
Glenview Capital Management, LLC
767 Fifth Avenue, 44th Floor
New York, New York 10153
(212) 812-4700
-----------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 21, 2006
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this statement because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box. [ X ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.240.13d-7 for other
parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Continued on following pages
Page 1 of 9 Pages
SCHEDULE 13D
CUSIP No.: 874054109 Page 2 of 9 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL MANAGEMENT, LLC
................................................................................
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
................................................................................
3. SEC Use Only
................................................................................
4. Source of Funds (See Instructions)
Not Applicable
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
[ ]
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6. Citizenship or Place of Organization
Delaware
................................................................................
7. Sole Voting Power 4,883,372
Number of ................................................................
Shares 8. Shared Voting Power None
Beneficially ................................................................
Owned by Each 9. Sole Dispositive Power 4,883,372
Reporting ................................................................
Person With 10. Shared Dispositive Power None
................................................................................
11. Aggregate Amount Beneficially Owned by Each Reporting Person
4,883,372
................................................................................
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
................................................................................
13. Percent of Class Represented by Amount in Row (11)
6.7% based on 72,548,823 shares outstanding as of June 2, 2006.
................................................................................
14. Type of Reporting Person:
OO
SCHEDULE 13D
CUSIP No.: 874054109 Page 3 of 9 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL GP, LLC
................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
................................................................................
3. SEC Use Only
................................................................................
4. Source of Funds (See Instructions)
Not Applicable
-------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
[ ]
-------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
................................................................................
7. Sole Voting Power None
Number of ................................................................
Shares 8. Shared Voting Power 4,883,372
Beneficially ................................................................
Owned by Each 9. Sole Dispositive Power None
Reporting ................................................................
Person With 10. Shared Dispositive Power 4,883,372
................................................................................
11. Aggregate Amount Beneficially Owned by Each Reporting Person
4,883,372
................................................................................
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
................................................................................
13. Percent of Class Represented by Amount in Row (11)
6.7% based on 72,548,823 shares outstanding as of June 2, 2006.
................................................................................
14. Type of Reporting Person:
OO
SCHEDULE 13D
CUSIP No.: 874054109 Page 4 of 9 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL MASTER FUND, LTD.
................................................................................
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
................................................................................
3. SEC Use Only
................................................................................
4. Source of Funds (See Instructions)
Not Applicable
................................................................................
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
[ ]
................................................................................
6. Citizenship or Place of Organization
Cayman Islands, British West Indies
................................................................................
7. Sole Voting Power None
Number of ................................................................
Shares 8. Shared Voting Power 3,041,992
Beneficially ................................................................
Owned by Each 9. Sole Dispositive Power None
Reporting ................................................................
Person With 10. Shared Dispositive Power 3,041,992
................................................................................
11. Aggregate Amount Beneficially Owned by Each Reporting Person
3,041,992
................................................................................
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ X ]
................................................................................
13. Percent of Class Represented by Amount in Row (11)
4.2% based on 72,548,823 shares outstanding as of June 2, 2006.
................................................................................
14. Type of Reporting Person:
CO
SCHEDULE 13D
CUSIP No.: 874054109 Page 5 of 9 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
LAWRENCE M. ROBBINS
................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
................................................................................
3. SEC Use Only
................................................................................
4. Source of Funds (See Instructions)
Not Applicable
-------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
[ ]
-------------------------------------------------------------------------------
6. Citizenship or Place of Organization
United States of America
................................................................................
7. Sole Voting Power None
Number of ................................................................
Shares 8. Shared Voting Power 4,883,372
Beneficially ................................................................
Owned by Each 9. Sole Dispositive Power None
Reporting ................................................................
Person With 10. Shared Dispositive Power 4,883,372
................................................................................
11. Aggregate Amount Beneficially Owned by Each Reporting Person
4,883,372
................................................................................
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
................................................................................
13. Percent of Class Represented by Amount in Row (11)
6.7% based on 72,548,823 shares outstanding as of June 2, 2006.
................................................................................
14. Type of Reporting Person:
IA
Page 6 of 9 Pages
This Amendment No. 1 to Schedule 13D relates to shares of Common
Stock, $.01 par value per share (the "Shares"), of Take-Two Interactive
Software, Inc. (the "Issuer"). This Amendment No. 1 supplementally amends the
initial statement on Schedule 13D, dated March 9, 2006 (the "Initial
Statement"), filed by the Reporting Persons (as defined herein). This
Amendment No. 1 to the Schedule 13D is being filed by the Reporting Persons to
report that the number of Shares that the Reporting Persons may be deemed to
beneficially own has decreased by more than one percent of the current amount
of outstanding Shares. Capitalized terms used but not defined herein shall
have the meanings ascribed to them in the Initial Statement. The Schedule 13D
is amended as follows.
Item 1. Security and Issuer:
This Statement relates to the Shares. The address of the principal
executive office of the Issuer is 622 Broadway, New York 10012.
Item 2. Identity and Background:
This Statement is filed on behalf of each of the following persons
(collectively, the "Reporting Persons"):
i) Glenview Capital Management, LLC ("Glenview Capital
Management");
ii) Glenview Capital GP, LLC ("Glenview Capital GP");
iii) Glenview Capital Master Fund, Ltd. ("Glenview Capital Master
Fund"); and
iv) Lawrence M. Robbins ("Mr. Robbins").
This Statement relates to the Shares held for the accounts of
Glenview Capital Master Fund, Glenview Capital Partners, L.P., a Delaware
limited partnership ("Glenview Capital Partners"), Glenview Institutional
Partners, L.P., a Delaware limited partnership ("Glenview Institutional
Partners"), GCM Little Arbor Master Fund, Ltd., a Cayman Islands exempted
company ("GCM Little Arbor Master Fund"), GCM Little Arbor Institutional
Partners, L.P., a Delaware limited partnership ("GCM Little Arbor
Institutional Partners"), and GCM Little Arbor Partners, L.P., a Delaware
limited partnership ("GCM Little Arbor Partners").
The principal business address of each of Glenview Capital
Management, Glenview Capital GP and Mr. Robbins is 767 Fifth Avenue, 44th
Floor, New York, New York 10153.
Item 5. Interest in Securities of the Issuer:
According to information filed by the Issuer with the Securities
and Exchange Commission in its most recent amendment to the Issuer's quarterly
report on Form 10-Q, the number of Shares outstanding was 72,548,823 as of
June 2, 2006.
(a) (i) Each of Glenview Capital Management, Glenview Capital GP
and Mr. Robbins may be deemed the beneficial owner of 4,883,372 Shares
(approximately 6.7% of the total number of Shares outstanding). This amount
consists of (A) 238,040 Shares held for the account of Glenview Capital
Partners, (B) 3,041,992 Shares held for the account of Glenview Capital Master
Fund, (C) 1,356,663 Shares held for the account of Glenview Institutional
Partners, (D) 191,496 Shares held for
Page 7 of 9 Pages
the account of GCM Little Arbor Master Fund, (E) 52,058 Shares held for the
account of GCM Little Arbor Institutional Partners, and (F) 3,123 Shares held
for the account of GCM Little Arbor Partners.
(ii) Glenview Capital Master Fund may be deemed to be the
beneficial owner of the 3,041,992 Shares (approximately 4.2% of the total
number of Shares outstanding), held for its account.
(b) (i) Glenview Capital Management may be deemed to have sole
power to direct the voting and disposition of the 4,883,372 Shares that it may
be deemed to beneficially own as set forth above.
(ii) Each of Glenview Capital GP and Mr. Robbins may be
deemed to have shared power to direct the voting and disposition of the
4,883,372 Shares that each of Glenview Capital GP and Mr. Robbins may be
deemed to beneficially own as set forth above.
(iii) Glenview Capital Master Fund may be deemed to have
shared power to direct the voting and disposition of the 3,041,992 Shares that
it may be deemed to beneficially own as set forth above.
(c) The trading dates, number of shares purchased and price per
share (including commissions, if any) for all transactions by the Reporting
Persons during the past 60 days are set forth in Annex A hereto.
(d) Not applicable.
(e) As of December 21, 2006, Glenview Capital Master Fund ceased
to be the beneficial owner of more than five percent of the Shares.
Page 8 of 9 Pages
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Date: December 26, 2006 GLENVIEW CAPITAL MANAGEMENT, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: December 26, 2006 GLENVIEW CAPITAL GP, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: December 26, 2006 GLENVIEW CAPITAL MASTER FUND, LTD.
By: Glenview Capital Management, LLC
As Investment Manager.
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: December 26, 2006 LAWRENCE M. ROBBINS
/s/ LAWRENCE M. ROBBINS
----------------------------------------
ANNEX A
RECENT TRANSACTIONS IN THE SECURITIES OF
TAKE-TWO INTERACTIVE SOFTWARE, INC.
A. Transactions for the account of Glenview Capital Master Fund, Ltd. in the
past 60 days.
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Date of Transaction Nature of Transaction Number of Shares Price per Share
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12/21/2006 SALE 1,716,100 $19.25
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B. Transactions for the account of Glenview Institutional Partners, L.P. in
the past 60 days.
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Date of Transaction Nature of Transaction Number of Shares Price per Share
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12/21/2006 SALE 956,500 $19.25
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C. Transactions for the account of Glenview Capital Partners, L.P. in the past
60 days.
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Date of Transaction Nature of Transaction Number of Shares Price per Share
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12/21/2006 SALE 175,800 $19.25
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D. Transactions for the account of GCM Little Arbor Partners, L.P. in the past
60 days.
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Date of Transaction Nature of Transaction Number of Shares Price per Share
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12/21/2006 SALE 2,100 $19.25
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E. Transactions for the account of GCM Little Arbor Master Fund, Ltd. in the
past 60 days.
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Date of Transaction Nature of Transaction Number of Shares Price per Share
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12/21/2006 SALE 119,700 $19.25
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F. Transactions for the account of GCM Little Arbor Institutional Partners,
L.P. in the past 60 days.
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Date of Transaction Nature of Transaction Number of Shares Price per Share
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12/21/2006 SALE 29,800 $19.25
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