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Electronic Arts Nears $50 Billion Deal to Go Private in Record Leveraged Buyout
Electronic Arts Nears $50 Billion Deal to Go Private in Record Leveraged Buyout
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BTCCSquare news:
Electronic Arts Inc. is in advanced discussions to be taken private in a deal valued at approximately $50 billion, potentially marking the largest Leveraged buyout in history. The video game publisher's shares surged more than 15% to $197.33 following reports of negotiations with a consortium including Saudi Arabia's Public Investment Fund and private equity firm Silver Lake.
The transaction, which could be announced as early as next week, WOULD eclipse the $45 billion record set by TXU Energy in 2007. EA, known for franchises like Madden NFL, FC Soccer (formerly FIFA), and The Sims, has seen its stock rally on heavy volume since news broke in The Wall Street Journal.
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