BofA analyst Omar Dessouky moved to No Rating on Electronic Arts (EA) after the company announced that it has entered into a definitive agreement to be acquired by an investor consortium comprised of Silver Lake, Affinity Partners, and Saudi Arabia’s Public Investment Fund. The deal “appears well-aligned with EA’s strategic goal to drive long term value creation,” and the valuation is “likely satisfactory,” says the analyst, who believes the stock is no longer trading on fundamentals following the news.
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