Electronic Arts Gains on Report of Takeover Talks

Thursday, 26 Apr 2012 04:56 PM

 

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Shares of Electronic Arts Inc. rose the most in more than four months after a report that Japan’s Nexon Co. may acquire the second-largest U.S. video-game publisher.

Electronic Arts gained 6.1 percent to $15.93 at Thursday's close in New York, the biggest jump since Nov. 30. The Redwood City, California-based company has tumbled 23 percent this year.

Nexon, the Tokyo-based video-game maker, has contacted Electronic Arts, Maeil Business said, citing unidentified industry officials.

Nexon is in talks to buy smartphone and mobile-game developers, Chief Financial Officer Owen Mahoney said in an interview this month. Nexon announced two investments in game companies in the past two months.

“Nexon has a policy of never commenting on rumors,” the company said in an e-mailed statement. Jeff Brown, an Electronic Arts spokesman, said in an e-mail that the company doesn’t comment on rumors or speculation.

Nexon’s shares fell 2.3 percent to 1,524 yen at the close of Tokyo trading Wednesday.

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