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EA shares up after rumored Nexon takeover

EA shares are up after a South Korean newspaper rumored this morning Nexon has made a bid for EA. Shares spiked $1.22, or 8.1%, to $16.23 after a 52-week low. Nexon, which has offices in Japan, are the makers of free-to-play MMOs such as MapleStory and Combat arms. The firm's market cap sits around $8.1 billion compared with EA's $5.2 billion. If anything comes of this rumor the likely result would be Nexon purchasing a minor interest in the firm, as it would cost too much takeover EA, which is currently sitting on oodles of cash. Representatives for both firms have told MarketWatch it is neither's policy to comment on rumors or speculation. Analyst Michael Pachter feels the rumor is rather silly, and outlines the reasons it will never happen through here.

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Stephany Nunneley-Jackson

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Stephany is VG247’s News Editor, with 22 years experience (with 15 of them at VG247). With a brain that lacks adhesive ducks, the ill-tempered, chaotic neutral fembot does her best to bring you the most interesting gaming news. She is also unofficially the site’s Lord of the Rings/Elder Scrolls Editor.

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