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EA Has Officially Been Sold, And What Comes Next Could Be Painful
The blockbuster buyout of Electronic Arts has been completed, with Saudi Arabia’s Public Investment Fund taking ownership of the gaming giant in the biggest leveraged buyout (LBO) in the history of commerce. The $55 billion deal includes billions in debt for EA, which has prompted fears of massive cost-cutting with projected layoffs, studio closures, and…
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EA Says Saudi Takeover Deal Is Set To Close Next Week
Electronic Arts will become a private company again very soon, with the gaming giant set to be acquired by an investors’ group led by the Saudi Arabian government. As revealed in today’s SEC filing, “all regulatory approvals required to complete the Merger have been obtained. Electronic Arts currently expects the Merger to close on or…