"Mass layoffs" expected at EA, as $55bn buyout by Saudi Arabia's PIF and Donald Trump's son-in-law officially goes through
Electronic Arts has officially been acquired by a consortium including Silver Lake, Affinity Partners led by Jared Kushner, and Saudi Arabia's Public Investment Fund, making it a privately owned company. The deal, valued at $55 billion, will see EA delisted from NASDAQ, with stockholders receiving $210 per share. The acquisition is a leveraged buyout, with EA taking on $18 billion in debt, leading to speculation of significant cost-cutting measures, including mass layoffs, to manage annual interest payments.
- Entities
- Company: Electronic Arts
- Person: Joshua Kushner
- Topic: Artificial Intelligence
- Company: Affinity Partners
- Topic: Layoffs
- Company: Silver Lake
- Topic: Mergers and Acquisitions
- Person: Andrew Wilson
- Company: Public Investment Fund
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