Kirkland Advises Investor Consortium on Agreement to Acquire EA in Largest Take-Private in History
Kirkland & Ellis advised an investor consortium comprised of PIF, Silver Lake, and Affinity Partners in a definitive agreement to acquire Electronic Arts Inc. (NASDAQ: EA), a global leader in digital interactive entertainment, in an all-cash transaction that values EA at an enterprise value of approximately $55 billion. The transaction represents the largest take-private investment in history. In addition to representing the investor consortium, Kirkland is also serving as lead legal counsel to PIF.
Under the terms of the agreement, the consortium will acquire 100% of EA, with PIF rolling over its existing 9.9% stake in the company. EA stockholders will receive $210 per share in cash. PIF, Silver Lake, and Affinity Partners bring deep sector experience, committed capital, and global portfolio with networks across gaming, entertainment, and sports that offer unique possibilities for EA to blend physical and digital experiences, enhance fan engagement and create new revenue streams. The deal was announced on September 29, 2025 and is expected to close in Q1 FY27 subject to customary closing conditions, including receipt of required regulatory approvals and approval by EA stockholders.
The Kirkland team included corporate lawyers Maggie Flores, Sarkis Jebejian, Jonathan Davis, Lee Blum, Aseda Ghartey-Tagoe, Kamran Bajwa and Noor Al-Fawzan; debt finance lawyers Adam Shapiro and Conor O’Muiri; capital markets lawyers Josh Korff and Zoey Hitzert; executive compensation lawyers Scott Price and Matt Wood; international trade & national security lawyers Ivan Schlager and Erika Krum; tax lawyers Dean Shulman and Sehj Vather; and antitrust & competition lawyer Stephen Mohr.
