It looks like a bidding war surrounding UK game developer and publisher Codemasters is coming up in the near future. Following Take-Two's official bid (estimated around £740 million), Sky News today reports that Electronic Arts is preparing a 'knockout bid' that would trump Take-Two's offer to buy Codemasters. This bid, reportedly in the works with bankers at UBS, is expected to be made public in early Monday morning.
As a reminder, here's what Take-Two CEO Strauss Zelnick stated when the company announced its intent to buy Codemasters.
We are exceedingly pleased to announce this recommended transaction with the board of Codemasters.
Codemasters has a renowned history of creating some of our industry's most beloved and commercially successful racing franchises, and we believe that their offerings will be highly complementary to our sports portfolio and enhance further our organization's long-term growth.
Moreover, we look forward to welcoming Codemasters' senior management and development teams into our Take-Two family, and sharing in our vision to deliver the highest quality entertainment experiences and aim to be the most innovative, creative and efficient company in our industry.
The actual offer made by Take-Two was 485 pence per share. However, Sky News believes EA's offer could be much higher, rewarding Codemasters and its shareholders for more than its current stock price (534 pence as of last Friday). Stay tuned for more on this potentially big power move in the games industry.
The post Codemasters Might Be Actually Acquired by EA Instead of Take-Two, According to a New Report by Alessio Palumbo appeared first on Wccftech.
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