Take-Two has allowed its provide for UK video games firm Codemasters to lapse, paving the way in which for EA to seal the deal.
In November 2020, Borderlands and Grand Theft Auto writer Take-Two agreed on a near-$1bn pricetag to snap up racing large Codemasters.
However in December, EA swooped in with a $1.2bn provide, which was accepted by the Codemasters board. EA’s provide is all-cash, valuing Codies at £6.04 for every odd share.
Now, Take-Two has formally walked away, however insisted it is nonetheless on the hunt for sport builders.
“Take-Two stays a extremely disciplined organisation and, with its robust stability sheet, will proceed to pursue selectively natural and inorganic alternatives which might be designed to reinforce the corporate’s long-term development and ship outcomes to its shareholders,” Take-Two mentioned in an announcement.
Final month, EA mentioned it hoped to finish the Codemasters deal through the first quarter of 2021. Assuming it goes via, the deal would carry the UK’s racing sport powerhouse developer underneath the identical umbrella as Criterion, the developer behind Burnout and Want for Pace. Codemasters develops various owned mental property, together with Dust, F1, and Grid.