Take Two Interactive Software has bought back 12 million shares of stock held by the Icahn Group.

The interactive gaming company maker of Grand Thief Auto series paid a closing price of $16.93 per share, costing the firm a total of $203.5 million, to be paid in cash.

Activist investor Carl Icahn, had agreed that his Take-Two board members would resign after the buyback.

Take-Two did not say why Icahn was selling its shares. Shares in Take-Two were down nearly 6 percent in premarket.