Codemasters In Talks With Take-Two Over Possible Sale

In a memo to investors, Codemasters confirmed that it's considering a potential sale to Take-Two Interactive, owner of Rockstar Games and 2K Games. Take-Two issued an acquisition proposal to Codemasters that values Codemasters at $973.48 million, a larger number than Codemasters' market cap value of $873.12 million.

The proposal isn't final--details can be amended--and is contingent upon completion of due diligence. If Take-Two goes through with a firm offer, Codemasters' Board has indicated it will unanimously recommend shareholders to accept the deal.

Take-Two also confirmed Codemasters announcement and issued a statement of its own. In it, Take-Two affirms the information laid out in Codemasters' initial memo.