Microsoft denies EA buyout claims

Microsoft has refuted Wall Street speculation that the global software giant is preparing to launch a takeover bid for publisher EA.

"We have no plans to acquire EA," a Microsoft spokesman said, as quoted in MarketWatch.

Shares in EA climbed 7 per cent to $19.36 on Wednesday as speculation over a possible takeover intensified. Shares in EA dipped 1 per cent in after-hour trading.