Take-Two is not giving up yet
California-based video game publisher Electronic Arts announced today that it has reached an agreement to buy Codemasters for $ 1.2 billion. This amount exceeds the amount specified in the previously concluded agreement between Codemasters and Take-Two Interactive Software.
Electronic Arts outbid Take-Two to buy Codemasters for $ 1.2 billion
UK-based company Codemasters, known for its Dirt, Project Cars, and F1 games, found the new offering more attractive than Take-Two. Take-Two said it is reviewing its position.
EA’s offer is 13.1% higher than Codemasters’ latest share price. If the deal goes through, its completion is expected in the first quarter of 2021.
EA, as well as rivals Activision Blizzard Inc and Take-Two, have benefited from the COVID-19 pandemic making people spend more time at home, particularly playing video games. According to the source, this trend may change next year, when countries start vaccinating people against COVID-19.
