- Take-Two Interactive Software (TTWO -0.6%) has lapsed its offer for Codemasters, stepping away from its pursuit after the UK company agreed to a higher-priced buyout from Electronic Arts (EA -2.4%).
- That effectively clears the way for EA to proceed with its $1.2B deal for Codemasters, known for its racing games.
- Take-Two's offer was for $994M.
- "Take-Two remains a highly disciplined organization and, with its strong balance sheet, will continue to pursue selectively organic and inorganic opportunities that are designed to enhance the company's long-term growth and deliver results to its shareholders," Take-Two said.
Take-Two drops approach to buy Codemasters, clearing way for EA bid
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| Symbol | Last Price | % Chg |
|---|---|---|
| TTWO | - | - |
| Take-Two Interactive Software, Inc. | ||