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'Battlefield' maker Electronic Arts to go private in record-setting $55 billion LBO
['Tsg Syndication']
The Sunday Guardian
By Zaheer Kachwala (Reuters) -Videogame developer Electronic Arts has agreed to sell itself to a group of private investors in a deal that values the maker of "Battlefield" and "Madden NFL" at $55 billion, which if completed would be the largest leveraged buyout in history.
Among these was the record $45 billion takeover of Texas utility TXU Energy in 2007 that wound up in bankruptcy just seven years later.
Electronic Arts is gearing up to launch the much-awaited "Battlefield 6" in an industry where gamers stick to proven and recognizable titles.
The previous LBO record holder, the $45 billion takeover of Texas utility TXU Energy in 2007 by private equity firm KKR & Co., alternative asset manager TPG and Goldman Sachs, went bankrupt in 2014.
Rental car company Hertz did not survive the pandemic, filing for bankruptcy in 2020 after going private for $14.8 billion in 2005.