Take-Two is looking to acquire racing studio Codemasters

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Published by FileTrekker 3 weeks ago , last updated 3 weeks ago

Take-Two Interactive has revealed that it has made a "possible" offer to acquire Codemasters, the UK based studio that specializing in racing games, including the DiRT and GRiD series.

According to Reuters, the deal is worth $973 million and, should it go ahead, would include Project Cars developer Slightly Mad Studios. There are several factors that may stop the deal from going ahead though, including due diligence and approval from the Codemasters board of directors. 

Codemasters has, however, released a statement that the board of directors will "recommend unanimously that Codemasters' shareholders accept the Possible Offer."

In any case, we should know before the 4th of December, as according to the UK's City Code on Takeovers and Mergers, the two sides must commit to the deal or walk away by that deadline. It seems likely that the deal will go ahead, though, with both companies' statements touting the positive benefits of the buyout.

We'll be sure to bring you any further news on this as we learn it.

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