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Electronic Arts is reportedly trying to outbid Take-Two Interactive in its effort to acquire Dirt 5 Codemasters developer.
According to a Sky News According to the report, EA’s offering is likely to have a “substantial premium” to the developer’s current share price (534 pence) and is higher than Take-Two’s offer of £ 739.2 million (973.01 million), although the exact amount is currently unclear.
The outlet also noted that “it is not certain whether Take-Two, whose market capitalization is about half the size of EA, will respond with a counter offer.”
Take-Two previously announced in early November that it had made a proposal to “acquire the full issued share capital” of Codemasters. The company’s offering was a combination of shares and cash, which means that the value of its proposal fluctuates according to the price of its shares.
“Some fund managers who own Codemasters shares have expressed dissatisfaction with the Take-Two deal due to its equity component.” Sky News he added, “and the comparatively modest premium it represented to the unchanged share price of the British company.
Codemasters is best known for its racing games, including the Dirt series, the Grid franchise and its line of F1-brand titles. His last release was Dirt 5, which was launched in November for the PC, PS4, PS5, Xbox One and Xbox Series X consoles | S.
In other EA news, the company recently released an update for Star Wars Squads. The patch includes a variety of bug fixes, two new Starfighters, the B-Wing Starfighter and the TIE Defender, and the addition of the Fostar Haven map to multiplayer modes.
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