Electronic Arts is going private in a $55 billion ($210 per share in cash) transaction, the largest leveraged buyout on record, driven by an investor consortium including PIF, Silver Lake, and Affinity Partners.
Videogame giant Electronic Arts is nearing a deal to go private in what could become the largest leveraged buyout (LBO) in history, valued at up to $50 billion and backed by investors including Silver Lake and Saudi Arabia's Public Investment Fund.
KeyBanc downgraded WBD stock, citing high valuation after major year-to-date gains and concerns over demanding acquisition terms surrounding CEO David Zaslav's reported $40/share price target.
President Trump is hitting imports with massive new tariffs starting October 1st, targeting branded drugs (100%), heavy trucks (25%), and furniture.
Birkenstock raised its sales forecast (17.5% growth) due to strong demand from affluent shoppers, even after price hikes. They are also buying a factory near Dresden (€18M) to make more shoes and boost production capacity.
CarMax Q2 results severely missed Wall Street forecasts (64¢ vs. ~$1.04 expected). Used car sales fell 6.3%, partly due to customers rushing buys ahead of tariffs and high loan losses. The stock dropped 12%. CEO Bill Nash called it "challenging".
