RTTNews | Nov 10, 2020 08:21AM EST

08:21 Tuesday, November 10, 2020 (RTTNews.com) - Take-Two Interactive Software, Inc. (TTWO) has reached an agreement with the Board of Codemasters for the recommended acquisition of Codemasters, the UK-based game publisher and developer. Codemasters' shareholders will be entitled to receive 120 pence in cash and 0.02834 shares of Take-Two common stock for each ordinary share of Codemasters. The deal values each Codemasters' share at 485 pence and an implied equity value of approximately 759 million pounds.

Take-Two expects the combination to be accretive to pro forma adjusted net income per share from the first full fiscal year following completion of the acquisition, which is anticipated to be the company's fiscal 2022.

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