Games giant Electronic Arts gatecrashes £725m Codemasters takeover

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The American computer games giant Electronic Arts has gatecrashed the £725m takeover of Codemasters, the London-listed producer of some of the world’s most popular motor racing titles.

The value of EA’s offer was unclear, although it is likely to be at a substantial premium to Codemasters’ closing share price on Friday of 534p. It is not certain whether Take-Two, whose market capitalisation is roughly half the size of EA’s, will respond with a counterbid.

Some fund managers who own Codemasters shares have reportedly expressed dissatisfaction with the Take-Two deal because of its equity component and the comparatively modest premium it represented to the British company’s undisturbed share price.

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