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Take-Two withdraws Codemasters buyout offer and will continue to seek studios – Latest News, Breaking News, Top News Headlines

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Take-Two Interactive has withdrawn the Codemasters purchase offer, the company specializing in driving games by which orthey freed 980 million dollars. The corporation that brings together under its umbrella the Rockstar Games, 2K Games and Private Division labels made the offer last November, but in December Electronic Arts upped the ante to 1.2 billion of dollars.

According to VGC, Take-Two has withdrawn the offer with the consent of the company’s board of directors. The document where the firm offered to buy Codemasters included a clause that allows them withdraw the offer if the specialists in driving games did not hold a meeting with shareholders to discuss the matter before Tuesday, January 12.

Until that moment, Take-Two was considering his options to acquire Codemasters, its representatives stated after EA bid higher for the British studio. Even so, in the statement published this Wednesday the Strauss Zelnick Corporation does not completely rule out taking an interest in the study again and they assure that they will look for other possible companies to acquire.

Codemasters Slighlty Mad Studios

“Take-Two continues to be a very disciplined organization and with its strong balance sheet continue to pursue opportunities [de crecimiento] organic and inorganic selectively that are designed to improve the long-term growth of Take-Two and to offer results to its shareholders, “they say from the firm in a statement. Companies tend to refer to organic growth as hiring employees to increase their ranks and those of their attached studies; and with organic growth to the acquisition of third companies.

EA and Codemasters want to “lead” in “driving entertainment”

Electronic Arts and Codemasters will close their agreement, barring last minute changes, in the first quarter of this year. Gerhard Florin, president of the racing game brand, said both companies have a “shared ambition to lead the category of driving games”. For his part, Andrew Wilson, CEO of EA, assured that the intention is “to lead in a new era of driving entertainment” by doing “grow our existing sagas”.

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