Electronic Arts shareholders vote overwhelmingly in favor of Saudi-led takeover

Not that there was ever much doubt, but now it’s official: Electronic Arts shareholders have voted in favor of the company’s takeover by a consortium led by Saudi Arabia’s Public Investment Fund.

The vote, first reported by Bloomberg, was not close. A subsequent SEC filing indicates that more than 201 million votes were cast in support of the acquisition, versus just 1.9 million votes against and 90,000 abstentions. The vote on compensation payable to EA’s executives following the close of the deal was somewhat less lopsided, but not enough to make it any less of a blowout: 1278.3 million for, 25 million against, 254,000 abstained. So, as they say in high-priced financial circles, that’s that.

The buyout will see EA taken private in a deal worth $55 billion in total, with current shareholders being paid out at $210 per share, a 25% premium on the company’s closing price as of September 25, 2025. That makes it the largest leveraged buyout in history—for a closer look at what that means, I would urge you to dive into our in-depth analysis of why the deal has everyone terrified.

The short version, though, is that the $20 billion loan required to finance the acquisition leaves EA exposed to massive risk, and the only backstop is the Saudi royal family’s unabashed affection for sportswashing. Saudi Arabia has made investments in numerous gaming companies through the PIF or Savvy Games Group in recent years, including Capcom, Embracer, ESL, Nexon, Nintendo, and Take-Two, as well as actual sports organizations like Newcastle United FC and the LIV Golf tour.

Shareholder approval is only the first hurdle to be cleared: The Saudi-led acquisition remains subject to regulatory approval, although that seems a foregone conclusion. The PIF is headed by crown prince Mohammed bin Salman, the de facto ruler of Saudi Arabia and good friend of US president Donald Trump, while Affinity Partners, one of two minority stakeholders in the takeover, is owned by Jared Kushner, Trump’s son-in-law. EA CEO Andrew Wilson, who will remain in the post if and when the deal is concluded, said in September that the company’s values will “remain unchanged” under the ownership of bin Salman, who is widely believed to have ordered the murder and dismemberment of journalist Jamal Khashoggi in 2018.

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