The operation will value EA around $55 billion, the company said in a press release. In electronic trading before the opening of the New York Stock Exchange, the title gained more than 5%.
Donald Trump’s son-in-law
In detail, the group of investors is offering $210 per share, a premium of 25% compared to Thursday’s closing price, before the Wall Street Journal reported on Friday an imminent offer. The consortium is made up of Saudi sovereign wealth fund PIF, as well as investment firms Silver Lake and Affinity Partners, the latter founded by Donald Trump’s son-in-law Jared Kushner.
The agreement provides that PIF is content to retain its existing 9.9% stake and thus remains a minority shareholder, with Silver Lake and Affinity Partners acquiring the balance of the shares. They will have to pay 36 billion dollars, according to the press release, including 20 billion coming from a loan, entirely subscribed by the JPMorgan Chase bank.
Stakeholders in the transaction expect it to be completed in the first quarter of EA’s staggered fiscal year, i.e. between April and June, subject to the green light from regulators. Once the takeover is effective, EA shares will be delisted, specifies the press release published Monday.
