It has come to light that the British video game company Take-Two Interactive has an intention to acquire Codemasters, a racing game-making veteran in the industry. Following confirmation on Take-Two’s part, the London Stock Exchange also issued an announcement to cement the British developer and publisher’s ‘conditional’ purchasing intentions.
Take-Two has officially offered to possibly buy out Codemasters Group Holdings PLC at a proposed price of 485 pence per share, of which 120 pence per share will be paid in cash and 365 pence per share will be paid in the form of company stock. This adds up to an estimated sum of £740m according to The Financial Times.
As per the statement made by the London Stock Exchange concerning the ongoing dealings, the offer was received by Codemasters on October 14, 2020. The document stipulated that the Board of Codemasters has until December 4, 2020, to make a decision about the tentative offer. Most importantly, it further disclosed that Codemasters has confirmed today that if Take-Two cements its intention, the board will accept the concrete purchase offer.