Take-Two Interactive Software Inc Offer Lapsed (4702L)
January 13 2021 - 2:00AM
UK Regulatory
TIDMCDM
RNS Number : 4702L
Take-Two Interactive Software Inc
13 January 2021
Take-Two Interactive Software, Inc.
13 January 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF
SUCH JURISDICTION
FOR IMMEDIATE RELEASE
Take-Two Interactive Software, Inc.
Lapse of the Offer for Codemasters Group Holdings plc
Following Codemasters' announcement on 14 December 2020 that
Codemasters board of directors had withdrawn its recommendation of
Take-Two's offer for Codemasters (the "Offer"), Take-Two today
announces that it has, with the consent of the Panel, lapsed the
Offer.
As set out in the Scheme Document dated 30 November 2020 (the
"Scheme Document"), Take-Two was entitled to lapse the Offer if the
Court Meeting and General Meeting were not held on or before the
22nd day after the expected date of such Meetings set out in the
Scheme Document. The expected date of such Codemasters Shareholder
Meetings set out in the Scheme Document was 21 December 2020, and
the 22nd day after such date was 12 January 2021. However, the
Codemasters Shareholder Meetings were not held on or before 12
January 2021 and Take-Two has not extended this date.
The Co-operation Agreement has automatically terminated in
accordance with its terms.
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
Take-Two's long-term growth and deliver results to its
shareholders.
Capitalised terms used and not defined in this announcement have
the meanings given to them in the Scheme Document.
The person responsible for arranging for the release of this
announcement on behalf of Take-Two is Daniel P. Emerson, Chief
Legal Officer.
Enquiries
Take-Two
Corporate Press +1 646 536 2983
Alan Lewis ( Alan.Lewis@take2games.com )
Goldman Sachs International (financial adviser to Take-Two)
Nick Harper +44 (0) 20 7774 1000
Khamran Ali
Aaron Siegel +1 212 902 1000
Daniel Krinsky
Brunswick LLP (PR adviser to Take-Two) Tel: +44 20 7404 5959
Jonathan Glass
Sarah West
Information on Take-Two Interactive Software
Headquartered in New York City, Take-Two Interactive Software,
Inc. is a leading developer, publisher and marketer of interactive
entertainment for consumers around the globe. We develop and
publish products principally through Rockstar Games, 2K, Private
Division, and Social Point. Our products are designed for console
systems and personal computers, including smartphones and tablets,
and are delivered through physical retail, digital download, online
platforms and cloud streaming services. The Company's common stock
is publicly traded on NASDAQ under the symbol TTWO. For more
corporate and product information please visit our website at
http://www.take2games.com .
Publication on a website
In accordance with Rule 26.1 of the Code, a copy of this
announcement will be available at Take-Two's website (
www.take2games.com ) by no later than 12 noon (London time) on 14
January 2021. The content of the website referred to in this
announcement is not incorporated into and does not form part of
this announcement.
Goldman Sachs International, which is authorised by the
Prudential Regulation Authority and regulated by the Financial
Conduct Authority and the Prudential Regulation Authority in the
United Kingdom, is acting exclusively for Take-Two and no one else
in connection with the matters referred to in this announcement and
will not be responsible to anyone other than Take-Two for providing
the protections afforded to clients of Goldman Sachs International,
or for providing advice in connection with the matters referred to
in this announcement.
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END
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