Take-Two announced last week that the company had begun its bid to purchase Codemasters. Take-Two was buying the popular F1 and DiRT video game developer and publisher for $960 million, and the deal was in the process of completion. Well, EA Games has put up a higher bid and might actually walk away with the publisher under its arms after all.
According to Sky News, EA Games submitted their own bid over the weekend to Codemasters. However, the amount is unclear. We also don’t know whether or not Take-Two will now submit a counteroffer in the deal. Sources told Sky News that EA made the buyout offer and is currently working with brokers at UBS to layout specific terms in the takeover.
The deal has not been made publish yet and EA’s SEC filing has not been updated yet with any new information on the business agreement. This means there is still time for Take-Two to submit a counteroffer but given the company’s previous bid, they might just pull out. If Take-Two offered $960 million to purchase Codemasters then EA might have come in with an over $1 billion offer.
According to Sky News, Codemasters declined to comment on the business transaction and EA was not available either
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