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Take-Two talks to buy Codemasters



Take-Two is in talks to buy Codemasters.

Codemasters today announced to investors that they had discussed with Take-Two about the sale of the company and received a non-binding offer to buy the company for 485 pence per share (120 pence). of which will be paid in cash, the rest in the Take-Two Interactive share).

Codemasters closed the trading day at 435 pence per share, making the asking price a bit higher than 11%.

Currently, Codemasters’ market capitalization values ​​the company at £ 662.98 million ($ 873.12 million), but Take-Two’s offer will value the company at 739.19 million. British Pound ($ 973.48 million).

The agreement will be conditional if Take-Two completes the due diligence and recommendation of the Codemasters board of directors, which is currently intended to unanimously recommend that all shareholders of Codemasters accept the agreement.

Discussions are ongoing, however, and Take-Two has yet to come up with a final offer, and details such as the deal̵

7;s cash-to-share ratio are still subject to revision.

Take-Two has until December 4 to decide whether it will make a binding offer, although that can be extended with regulatory approval. The publisher did not immediately respond to a request for comment.

Update: In a separate announcement, Take-Two explained its thoughts behind the acquisition, saying, “Take-Two believes that the combination of Take-Two and Codemasters will bring two interactive entertainment categories. world class, with a high complementary fit between Take- Two’s 2K publishing labels and Codemasters in the racing genre.

In addition, Take-Two believes it can benefit Codemasters’ performance by leveraging Take-Two’s global distribution network and 2K’s core executive expertise in publishing, including direct operations, analysis, product development, brand marketing and performance. “




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