Electronic Arts Inc. (EA), an interactive entertainment firm, said on Monday that it has inked a deal to be acquired by an investor consortium comprised of PIF, Silver Lake Resources Inc. (SKZ.V), and Affinity Partners for around $55 billion in cash.
Under the terms, EA stockholders will receive $210 per share in cash. The per-share purchase price represents a 25% premium to EA's share price of $168.32 on September 25, and a premium to EA's all-time high of $179.01 on August 14.
The transaction, to be closed in the first quarter of 2027, represents the largest all-cash sponsor take-private investment in history, EA said in a statement.
The transaction will be funded by a combination of cash from each of PIF, Silver Lake, and Affinity Partners as well as roll-over of PIF's existing stake in EA, constituting an equity investment of around $36 billion, and $20 billion of debt.
The debt financing is committed by JPMorgan Chase Bank, N.A., $18 billion of which is expected to be funded at close.
Post transaction, EA will remain headquartered in Redwood City, California, and continue to be led by CEO Andrew Wilson.
EA was up by 5.45% at 203.80 in the pre-market trade on the Nasdaq.
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