It’s over a week since Haynes Publishing Group put itself up for sale, as detailed in an earlier post, and I wanted to discuss some elements of the formal sales process. Haynes decided to solicit offers for the company through the formal sale process framework as set out in the UK’s Takeover Code. “It provides some flexibility to offeree boards in managing an offer process where they have decided the company should be sold,” says Paul Arathoon, a partner with lawyers Charles Russell Speechlys.
British video games company Codemasters announced on Thursday that it had extended the terms of its licensing agreement for the Formula One franchise until 2025. The F1 game is one of the company’s cornerstone products and signing an extension to the contract removes a fundamental risk for the business. It is one of the company’s most important products given the prestige the sports franchise provides and the opportunity for yearly game reboots with the start of each new season. More recently, Codemasters have launched an accompanying mobile game and eSports league, furthering the reach of the game.