Electronic Arts Rises on Report of Nexon Discussions
Electronic Arts gained 6.1 percent to $15.93 at the close in New York, the biggest jump since Nov. 30. The Redwood City, California-based company has tumbled 23 percent this year.
Nexon, the Tokyo-based video-game maker, has contacted Electronic Arts, Maeil Business said, citing unidentified industry officials.
Nexon is in talks to buy smartphone and mobile-game developers, Chief Financial Officer Owen Mahoney said in an interview this month. Nexon announced two investments in game companies in the past two months.
“Nexon has a policy of never commenting on rumors,” the company said in an e-mailed statement. Jeff Brown, an Electronic Arts spokesman, said in an e-mail that the company doesn’t comment on rumors or speculation.
Nexon’s shares fell 2.3 percent to 1,524 yen at the close of Tokyo trading yesterday.
To contact the reporter on this story: Niamh Ring in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Anthony Palazzo at email@example.com