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- A majority of the EA shareholders have said “Yes” to the Saudi-led buyout deal.
- Of the estimated 203 million shareholders, only 1.9 million didn’t approve.
- This will mark one of the most significant acquisitions in the gaming industry ever.
A couple of months ago, it was announced that Electronic Arts was going private in a shock $55 billion deal with Saudi Arabia. The deal attracted significant backlash; however, it seems it will fall through, as most shareholders oppose it.
A new report has revealed that around 99% of EA shareholders have approved the Saudi-backed acquisition. The investment fund will now own a staggering 93.4% of the company under the planned buyout.
Why it matters: The buyout is now looking more likely than ever, considering the shareholders agree to the terms, marking the privatization of the gaming giants that were established over 40 years ago.
According to the SEC filing, 99% of the shareholders voted in favor of selling the company to the Saudi investment fund. The company has around 203 million shareholders, out of which around 201 million are in favor of the deal.
The remaining 1.9 million shareholders didn’t approve of the deal, which won’t matter in the grand scheme, as a majority is okay with it. That means EA‘s privatization is all but officially confirmed at this point.
3 big investors are financing the deal; however, the Saudi Public Fund will own around 93% of the company. Moreover, the company’s management will remain intact as a part of the buyout deal.
Nonetheless, this marks one of the most significant deals in the gaming industry. EA is one of the biggest names in the industry, and the implications of this buyout will become clearer as the case progresses.
What are your thoughts on 99% of the shareholders approving the EA buyout deal? Let us know your opinions in the comments or join the discussion at the official Tech4Gamers Forum.
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News Reporter
Abdullah is an avid gamer who primarily plays single-player titles. If you can’t find him anywhere, he’ll probably be at his desk playing The Witcher 3 for the millionth time. When he isn’t playing games, he’s either reading or writing about them.
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