"Redwood City-based Electronic Arts could be taken private in a $55 billion deal announced Monday that's backed by Saudi Arabia's Public Investment Fund, Jared Kushner's Affinity Partners, and private equity firm Silver Lake. Electronic Arts may soon be privately owned if a deal is approved that brings together the three equity partners, in what would be the largest-ever buyout funded by private-equity firms, as the Associated Press reports."
"existing shareholders would be paid a 25-percent premium on their shares as of today, or $210 per share. "Electronic Arts is an extraordinary company with a world-class management team and a bold vision for the future," said Kushner in a statement. "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.""
Electronic Arts could be taken private in a $55 billion transaction backed by Saudi Arabia's Public Investment Fund, Jared Kushner's Affinity Partners, and private equity firm Silver Lake. The agreement values Electronic Arts at $52.5 billion and would pay existing shareholders $210 per share, a 25-percent premium. Affinity Partners' largest investor is the Saudi Public Investment Fund, which previously allocated $2 billion to Affinity and already owned a 9.9% stake in Electronic Arts. The transaction would, if approved, be the largest-ever buyout funded by private-equity firms and would place EA under combined control of the three equity partners.
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