Electronic Arts has been taken private in a $55 billion deal backed by Saudi Arabia's wealth fund and Jared Kushner's Affinity, with shareholders receiving $210 per share in cash, according to CNBC.
Key facts
- The deal is valued at $55 billion, according to CNBC.
- Backers include Saudi Arabia's wealth fund and Jared Kushner's Affinity, according to CNBC.
- EA shareholders will receive $210 in cash per share.
- EA stock has ceased trading and will be delisted from the Nasdaq.
Electronic Arts, the video game publisher behind EA Sports, has been taken private in a $55 billion deal backed by Saudi Arabia’s sovereign wealth fund and Jared Kushner’s Affinity, according to CNBC.
As part of the transaction, EA said its stock has ceased trading and will be delisted from the Nasdaq.
Under the terms of the deal, EA shareholders will receive $210 in cash per share, CNBC reported.
No further details of the transaction were provided in the available reporting.
Why it matters
The transaction moves Electronic Arts from public to private ownership, a significant change in the structure of a major video game publisher.
Frequently asked questions
How much will EA shareholders receive?
EA shareholders will receive $210 in cash per share, according to CNBC.
Is EA still traded publicly?
No. EA said its stock has ceased trading and will be delisted from the Nasdaq.
Who is backing the EA deal?
The $55 billion deal is backed by Saudi Arabia's wealth fund and Jared Kushner's Affinity, according to CNBC.