Electronic Arts said it had reached an agreement to buy Codemasters in a deal worth $1.2 billion (roughly Rs. 8,800 crores), trumping an earlier agreement between the British company and rival Take-Two Interactive.
Shares in London-listed Codemasters surged 18.7 percent to GBP 6.37 (roughly Rs. 600) by 08:45 GMT (2:15pm IST) above the GBP 6.04 (roughly Rs. 580) per share offered to the company’s shareholders by EA.
UK-based Codemasters, known for its Formula One games for Playstation 4, said it considered the new offer to be superior to Take-Two’s cash-and-stock buyout offer of GBP 4.85 (roughly Rs. 470) per share.