Report: Nexon makes EA takeover bid
Thursday, 26th April 2012 at 6:37 pm
Shares up by six per cent following buyout rumour
Reports emerged today claiming that Nexon has contacted EA about a takeover bid.
A South Korean newspaper ran the story this morning, causing EA's stock prices to jump by six percent.
Nexon is the online gaming company behind popular MMOG Maple Story, and raised $1.2 billion dollars in the biggest Japanese IPO of last year.
It is doubtful that Nexon could afford a complete takeover of EA, which has a market cap of $5.28 billion compared to Nexon's cash assets of $1.55 billion.
Develop asked EA if there was any truth in the report, to which a spokesperson responded, "we don't comment on rumors and speculation."
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