Awaited European decision on approving the Electronic Arts deal
Electronic Arts Inc. EA | 0.00 |
BRUSSELS, June 24 (Reuters) - A European Commission document released on Wednesday showed that a group of investors, including Saudi Arabia's Public Investment Fund, has applied for EU approval for a $55 billion takeover of video game developer Electronic Arts (EA).
The deal is also subject to separate review under EU merger rules.
The Commission will assess the deal under foreign subsidy regulations designed to prevent unfair support from outside the European Union for companies seeking to acquire competitors within the bloc's 27 member states or participate in public tenders. It has set July 30 as the deadline for its decision.
The European Union's competition and antitrust enforcement body can approve the deal unconditionally after an initial review, or it can open a full investigation if it has serious concerns.
