Shares up by six per cent following buyout rumour

Report: Nexon makes EA takeover bid

Reports emerged today claiming that Nexon has contacted EA about a takeover bid.

A South Korean newspaper ran the story this morning, causing EA’s stock prices to jump by six percent.

Nexon is the online gaming company behind popular MMOG Maple Story, and raised $1.2 billion dollars in the biggest Japanese IPO of last year.

The company was founded in South Korea in 1994, and recently told Bloomberg it planned on buying more Japanese mobile game developers.

It is doubtful that Nexon could afford a complete takeover of EA, which has a market cap of $5.28 billion compared to Nexon’s cash assets of $1.55 billion.

Develop asked EA if there was any truth in the report, to which a spokesperson responded, "we don’t comment on rumors and speculation."

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