UPDATED · News · 23 Sep 2009 · MTW Editorial Team
This could be huge. Reuters is reporting rumors of an Eletronics Arts purchase buy Microsoft:
NEW YORK, Sept 23 (Reuters) – Shares of Electronic Arts Inc (ERTS.O) jumped more than 4 percent to $19.36 on Wednesday on unsubstantiated talk that Microsoft Corp (MSFT.O) might be interested in buying the video game publisher, traders said.
“There’s talk that Microsoft might be interested in acquiring Electronic Arts. It’s unsubstantiated chatter, but it’s out there,” said Frederic Ruffy, options strategist at WhatsTrading.com in New York.A London-based trader also cited similar talk as making rounds in Europe. Microsoft shares were up 0.9 percent at $26 on Nasdaq
Update:
But Trip Chowdhry, an analyst at Global Equities Research, said Electronic Arts was not on Microsoft’s “radar screen” based on his industry contacts.
“Our contacts just don’t see Microsoft buying Electronic Arts, no synergies whatsoever, and also not Microsoft’s corporate primary focus right now,” Chowdhry wrote in an e-mailed note.
Source: Reuters
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