Electronic Arts (NASDAQ:EA) stock soared over 14% Friday afternoon after The Wall Street Journal reported the video game publisher is nearing a deal to go private in what could be the largest leveraged buyout ever.
A consortium of investors including private-equity firm Silver Lake and Saudi Arabia’s Public Investment Fund is reportedly close to finalizing the acquisition, with an announcement possible as early as next week, according to people familiar with the matter. Jared Kushner’s Affinity Partners is also part of the investor group.
The California-based company, known for popular titles such as FC (formerly FIFA), Madden NFL, and The Sims, has a current market capitalization of approximately $43 billion. While price discussions are still ongoing, sources indicate EA could be valued at up to $50 billion in the transaction.
If completed, the buyout would likely rank as the largest leveraged buyout in history.
Source :
https://www.investing.com/news/stock-market-news/electronic-arts-stock-jumps-on-reports-of-50b-private-buyout-deal-4258206
