EA Reportedy Attempting to Outbid Take-Two to Acquire Codemasters

Electronic Arts is allegedly attempting to outbid Take-Two Interactive's nearly $1 billion offer to acquire Codemasters, the developers behind the Dirt, F1, and Project Cars racing franchises. As reported by Sky News, EA has "tabled a potentially knockout bid for Codemasters, trumping an offer agreed last month with Take-Two Interactive Software, maker of the Red Dead franchise." [ignvideo url="https://www.ign.com/videos/2020/11/19/dirt-5-review"] Take-Two's attempt to acquire Codemasters was announced in November, and EA is said to be looking to outbid the £725 million (~$969 Million USD) offer that was placed. While EA's offer has not been revealed, Sky News notes that it is working with bankers at UBS on its offer and that it will likely to be disclosed to the stock market on Monday, December 14, and will be a "substantial premium to Codemasters' closing share price on Friday of 534p." Take-Two's offer is a cash-and-shares deal, which means that the value of the proposal fluctuates depending on the stock market. Additionally, certain fund managers who own Codemasters have "reportedly expressed dissatisfaction with the Take-Two deal because of its equity component and the comparatively modest premium it represented to the British company's undisturbed share price." [widget path="global/article/imagegallery" parameters="albumSlug=the-greatest-racing-games-ever&captions=true"] Codemasters' latest game, Dirt 5, was released alongside the launch of the PlayStation 5 and Xbox Series X/S. In our Dirt 5 review, we said that it "represents a complete about-face for the main Dirt series, shedding virtually all semblance of simulation in favour of an unabashed, arcade-inspired racing experience that draws from just about every influence you can name except its direct predecessor. [poilib element="accentDivider"] Have a tip for us? Want to discuss a possible story? Please send an email to newstips@ign.com. Adam Bankhurst is a news writer for IGN. You can follow him on Twitter @AdamBankhurst and on Twitch.

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