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Take-Two is in talks to acquire Codemasters

In a statement Friday, Codemasters said that Take-Two had made a non-binding offer to acquire the company for around $960 million in cash and stock.

The company said that if a firm offer was made it would recommend that shareholders accept. The deal would be the latest in a wave of gaming M&A, following Microsoft's $7.5 billion acquisition of ZeniMax Media.

Codemasters, which makes the Formula 1 and Dirt racing games, would join Take-Two's growing portfolio of studios, which already includes 2K and Rockstar Games.

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