Take-Two Interactive No Longer Bidding on Codemasters
Paving the Way for EA to Seal the Deal
Over the last couple of months we’ve been following a sort of bidding war for the acquisition of racing game developer, Codemasters. In early November Take-Two announced that they would be purchasing the F1 developer for a hefty sum of $973 million USD, that is until December when EA put in a counterbid of $1.2 billion USD.
It wasn’t clear at the time how these competing offers would play out, but today, Take-Two Interactive has announced that their offer has officially lapsed.
“As noted in the Scheme Document (the “Scheme Document”) dated November 30, 2020, Take-Two was entitled to lapse the offer if the Court Meeting and General Meeting were not held on or before the 22
By Ian Walker Take-Two Interactive Software, Inc. said Wednesday that its offer for Codemasters Group Holdings PLC has now lapsed following the U.K. videogames developer and publisher s withdrawal of its recommendation last year. On Dec. 14, Codemasters agreed to a 945 million pounds ($1.29 billion) cash takeover from Electronic Arts Inc., and withdrew its recommendation for a GBP759 million offer from Take-Two Interactive that had been agreed in November. Take-Two Interactive said Wednesday that it remains highly disciplined with a strong balance sheet and that it will continue to pursue selective opportunities to boost growth. Write to Ian Walker at ian.walker@wsj.com
Take-Two Quits from the Rivalry to Acquire Codemasters After EA s Offer
Take-Two Interactive pulled its offer for acquiring Codemasters but will pursue other opportunities for the long-term growth of the company.
Grid, but now it seems the parent company of 2K Games and Rockstar has no interest in making a new offer anymore.
In a recent statement from Take-Two Interactive, while they didn’t exactly announce their withdrawal from Codemasters’ acquisition, they did mention that they will continue to pursue selective opportunities that are capable of enhancing Take-Two’s long-term growth in the future. You can read the statement below:
Take-Two Interactive announced today that it is rescinding its offer on Codemasters. EA will now be able to acquire the British publisher without interference.
Take-Two не будет бороться с Electronic Arts за право владения студией Codemasters RosInvest Com rosinvest.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rosinvest.com Daily Mail and Mail on Sunday newspapers.