Markets report: Codemasters out in front after swoop by rival video game firm

Shares of British video game developer Codemasters have rocketed, after it announced a takeover offer from American video game holding company Take-Two Interactive. Take-Two offered to buy all of Codemasters at a price of 485p per share, made up of 120p in cash and 365p in the American firm’s shares. Codemasters’ board is recommending unanimously its shareholders accept the offer. The offer would value the company at £739m. Codemasters - known for its Formula One games for the