Game Developer Gets OK For Vote On New $1.2B Buy-Up Bid
Law360, London (January 5, 2021, 3:02 PM GMT) -- A judge gave a U.K.-based video game developer the green light on Tuesday to call a shareholders' meeting to vote on a $1.2 billion acquisition offer by gaming giant Electronic Arts.
High Court Judge Catherine Burton signed off the proposed Feb. 3 meeting after hearing that the Electronic Arts deal replaces an acquisition offer from another rival game-maker that the British company, Codemasters, had announced in November.
"There was an [offer] proposed in November by Take Two Interactive Software Inc., which was a mixture of cash and shares," Codemasters' lawyer, Andrew Thornton QC of Erskine Chambers, told the court. "This deal...
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