Rumor: Nexon Seeks EA Takeover
Nexon, a South Korean online game company, may be seeking to buy out EA. The rumors, which started in a South Korean newspaper, have got investors responding with EA’s shares having spiked 8.1% ($1.22 per share) to $16.23. This is a rather large jump, considering the stock was originally trading close to a 52 week low, due in part to EA’s struggle with the transition from traditional physical sales to digital distribution. A Bloomberg video report has also mentioned the news as well. Currently it’s just a rumor, but should Nexon actually buy out EA, it could bring about serious change to the gaming industry.
Not a lot to go on here just yet, but EA shares are responding strongly to the rumor: the game makers shares have spiked $1.22, or 8.1%, to $16.23. The stock lately has been trading close to a 52-week low, as it continues to struggle through a transition to switch more of its business to digital distribution and away from the traditional shrink-wrapped console game market.
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