The following is an excerpt from Yannick LeJacq | August 17, 2012 | ibtimes.com |
Electronic Arts Inc. (Nasdaq:EA) is “quietly exploring” opportunities for it to be sold to private equity firms, according to a report by the New York Post.
The Redwood City, Calif.-based video game industry giant is talking to two private equity companies, according to the Post, which cited persons familiar with the matter.
One of the private equity companies is KKR & Co. L.P (NYSE: KKR) The other is Providence Equity Partners, a major shareholder in ZeniMax Media, an EA competitor that publishes video games produced by its subsidiaries, which include renowned development studios like id Software, creators of the “Quake” and “Doom” franchises, and Bethesda Game Studios, makers of “The Elder Scrolls” series and “Fallout 3.”
One source told the Post that “it’s early days” for any deliberation. But another claimed that EA has “made it known they’d do a deal at $20 a share.”
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Over the past year, EA’s stock has fallen 37 percent. When news of a potential takeover broke from the original Post report on Thursday, however, the company’s stock jumped 7.1 percent to $14.02 — the greatest single increase for the company in the past six months.
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