EA going private in a deal that will pay shareholders $210 a share
An Electronic Arts video game logo is seen at the Electronic Entertainment Expo.
Lucy Nicholson | Reuters
Electronic Arts said Monday that it has agreed to be acquired by the Public Investment Fund of Saudi Arabia, Silver Lake and Affinity Partners in an all-cash deal worth $55 billion.
Shareholders of the company will receive $210 per share in cash.
Trading was halted on EA with the stock up about 6% premarket. Shares gained about 15% Friday, closing at $193.35, after the Wall Street Journal reported that the company was nearing a deal to go private.
Affinity CEO Jared Kushner, who is President Donald Trump‘s son-in-law, touted EA’s “bold vision for the future” in a release announcing the deal.
“I’ve admired their ability to create iconic, lasting experiences, and as someone who grew up playing their games - and now enjoys them with his kids – I couldn’t be more excited about what’s ahead,” Kushner said in a statement.
PIF is rolling over its existing 9.9% stake in the company.
EA 5-day stock chart.
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