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About Rainier

PC gamer, WorthPlaying EIC, globe-trotting couch potato, patriot, '80s headbanger, movie watcher, music lover, foodie and man in black -- squirrel!

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FTC Green-lights EA's BioWare/Pandemic Acquisition

by Rainier on Nov. 5, 2007 @ 5:01 p.m. PST

Antitrust regulators have cleared Electronic Arts' $775 million purchase of VG Holding Corp, which owns two software studios from private equity fund Elevation Partners, BioWare Corp. and Pandemic Studios.

Under terms of the deal, EA will pay VG stockholders $620 million in cash and issue as much as $155 million in equity to some of the company's employees.

The acquisition is intended to strengthen EA's offerings in those markets, company executives said last month.

The Federal Trade Commission included the deal on a list of transactions that received an "early termination" of their antitrust reviews. Early termination refers to the completion of a review before the end of a 30-day period required under antitrust law.

The deal is expected to close in January. Investors in Elevation Partners include the rock singer Bono.

EA's shares fell $1.12 to $59.34 in early trading Monday.

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