Gowling WLG advises leading UK video games maker Codemasters on £759 million deal with Take-Two

2 minute read
12 December 2020

Gowling WLG is advising leading UK video games maker Codemasters Group Holdings plc on a recommended cash and shares takeover offer from Take-Two Interactive Software, Inc., the NASDAQ-listed US games publisher based in New York.

The takeover offer values Codemasters at approximately £759 million on a fully diluted basis.

Codemasters is one of the oldest names in the UK video games industry and listed on the AIM market of the London Stock Exchange in 2018.

Gowling WLG has advised Codemasters since 2018 when it acted on the company's AIM IPO in June 2018 and subsequently acted on the company's acquisition of racing simulation specialists Slightly Mad Studios in 2019. Corporate partner Sunil Kakkad is leading a cross firm team advising on the takeover offer from Take-Two, supported by partner Jeff Elway, director Samantha Myers, associate Emily Airton, trainee Alistair Connor (all corporate), consultant Mike Murphy (tax & share options) and partner Sam Beighton (EU and competition law).

Sunil said: "Codemasters is a household name in the British games industry and has gone from strength to strength since its successful listing on AIM. The growth of Codemasters is a major success story for the UK gaming industry and we're pleased to be advising the company on the takeover offer from Take-Two."

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