"The $55 billion sale of Electronic Arts to Saudi Arabia's Public Investment Fund and a group of other private equity investors is a big deal. Some people are going to make a lot of money off it. Others may lose their jobs when the interest bill for the debt-financed portion of the leveraged buyout comes due. CEO Andrew Wilson, who will remain in charge of the Madden and Battlefield publisher even after the sale closes, is thanking his employees."
"EA stockholders, which would include Wilson, will receive $210 per share. The executive was granted $31 million in cash and stock awards for the company's last fiscal year, up $5 million from the year prior, even as the company laid off rank-and-file employees and hit sales snags in EA Sports FC, Apex Legends, and Dragon Age: The Veilguard. The 25 percent premium on the company's mid-August share price comes with a catch, however."
Electronic Arts will be acquired for $55 billion by Saudi Arabia's Public Investment Fund alongside other private equity firms. Stockholders will receive $210 per share, representing roughly a 25 percent premium over mid-August prices. CEO Andrew Wilson will remain in charge and praised employees for building iconic IP. Wilson received $31 million in cash and stock awards last fiscal year amid layoffs and sales shortfalls for titles including EA Sports FC, Apex Legends, and Dragon Age: The Veilguard. The transaction includes about $20 billion of debt, creating potentially hundreds of millions in annual interest that could pressure budgets and lead to further cuts.
Read at Kotaku
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