Video game publisher Take-Two Interactive Software announced that it won’t make an offer higher than peer Electronic Arts’ $1.2 billion bid for U.K. racing game publisher Codemasters Group.
Back on December 14, 2020, Take-Two Interactive was advised by the Board of Codemasters to withdraw its offer for acquiring the game developer. With the deadline (Jan 12) recently passing, Take-Two has decided to no longer pursue the acquisition of Codemasters.
“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,” the company said in a statement.