EA has stepped in at the last moment with an unexpected bid.
Recently, Take-Two Interactive announced their intent to purchase Codemasters for a deal that could be worth up to £750 million. The acquisition looked to be set in stone and was due to be completed in Q1 of 2021, but it seems EA have come in at the eleventh hour with a bid of their own that could pose some complications.
As reported by Sky News, industry insiders have claimed that EA have filed a bid of their own of up to £725 million, and that the same will probably be announced on Monday. It’s possible that Codemasters could end up opting to deal with EA instead of Take-Two, especially if they feel they are being offered a better valuation by the former. Take-Two’s deal included both cash and shares, and the latter in particular can fluctuate, so it’s certainly possible.
Whether or not Take-Two Interactive will make a counter bid remains to be seen. EA confirmed earlier this year that they were interested in studio acquisitions (and were reportedly even in the running to purchase WB Games at one point), but them coming in at the final minute in a deal that looked all but done is still a surprise.
Stay tuned, and we’ll keep you updated as this story develops.