The takeover of Codemasters has taken some twists and turns, but now it looks as though it is heading in the direction of EA.
Take-Two has withdrawn their bid, leaving EA as the only offer on the table.
Take-Two Withdraw Bid
Take-Two, parent company of Rockstar and 2K Sports, has officially withdrawn their takeover bid.
The original $980 million valuation was trumped by EA who swooped in with a $1.2 billion bid.
According to Resetera, "The company’s action is possible due to a clause which said it could pull its offer should Codemasters not hold a Shareholder Meeting related to the potential acquisition on or before January 12.
Following the first news of EA’s accepted offer in December, Take-Two had said it was considering its options.
On Wednesday the company did not explicitly state that it wouldn’t return with an increased offer for Codemasters, but its statement appeared to suggest it was now considering other acquisition targets."
The official statement from Take-Two reads:
“Take-Two remains a highly disciplined organization and, with its strong balance sheet, will continue to pursue selectively organic and inorganic opportunities that are designed to enhance the Take-Two’s long-term growth and deliver results to its shareholders.”
EA to acquire Codemasters?
It appears as though EA are almost certain to acquire Codemasters, although nothing is set in stone.
Does this mean the next F1 game will be produced by EA? Only time will tell.
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