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Wednesday, December 19, 2012

THQ files for bankruptcy, Clearlake makes offer for assets, (NASDAQ: THQI)

Video game maker THQ Inc said Wednesday it filed for bankruptcy, and private investment firm Clearlake Capital Group has offered to purchase its assets. THQ has filed voluntary petitions under Chapter 11 in U.S. Bankruptcy Court for the District of Delaware to facilitate a sale of the assets of its operating business, including its four owned studios and games in development.Shares of THQ were halted on the NASDAQ in the early afternoon.(( )

THQ Inc. (THQ), is a worldwide developer and publisher of interactive entertainment software for game systems. Shares of THQI fell by 68.84% or $-0.95/share to $0.43. In the past year, the shares have traded as low as $1.00 and as high as $8.60. On average, 292315 shares of THQI exchange hands on a given day and today's volume is recorded at 357614.