Codemasters directors have voted to approve of EA's
proposed takeover of the racing sim
specialists (thanks
Gamasutra). EA stepped in with a better deal than Take-Two's
prior offer, and Take-Two
subsequently
dropped their bid.
Word is the USD$1.2 billion deal will now go forward, even if a higher proposal
from another party follows:
Following the announcement from Take-Two
Interactive Software, Inc. ("Take-Two") on 13 January 2021 that it had, with the
consent of the Panel, lapsed the Take-Two Offer, the irrevocable undertakings
executed in favour of Take-Two by each of the Codemasters Directors who hold, or
are otherwise beneficially interested in, Codemasters Shares to vote in favour
of the Take-Two Offer have also now terminated.
Codemasters today announces that Codemasters Directors who hold, or are
otherwise beneficially interested in, Codemasters Shares, have entered into
irrevocable undertakings with Bidco to vote in favour of the proposed
acquisition of Codemasters by Bidco (the "Acquisition") at the Court Meeting and
the General Meeting convened to be held on 3 February 2021, in respect of
6,614,250 Codemasters Shares, representing, in aggregate, approximately 4.34 per
cent. of the issued ordinary share capital of Codemasters. Further details of
these irrevocable undertakings are set out at the Appendix to this
announcement.