Take-Two Officially Cancels Codemasters Acquisition After Losing Bid with EA
It seems Codemasters will not be part of the 2K Sports group and instead join EA Sports after Take-Two failed to beat EA’s bid.
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Reporting from VG247, Take-Two has announced that Codemasters has received an offer from EA, and they are not interested in making a higher bid, leading them to withdraw their plans to buy the studio behind Dirt 5.
On December 14, EA made a $1.2 billion bid to acquire Codemasters, which is much higher than the $994 million offer Take-Two made in November.
The opportunity until January 12, 2021 is given to Take-Two and other publishers who are interested in beating EA’s offer, but until that date no shareholder meeting has taken place.
EA’s offering is expected to enter the finalization stage in the first quarter of 2021. Seeing that the company will announce the results of Q3 2020 in February, they will most likely announce the results of their meeting with the racing game specialist studio in their upcoming financial report.
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