Bulge-Brackets Goldman and JPMorgan Land Biggest LBO Ever

The biggest buyout on record was negotiated by two of Wall Street’s traditional M&A powerhouses.

Goldman Sachs Group Inc. is advising Electronic Arts on its $55 billion sale to a consortium led by Silver Lake Management, which is working with JPMorgan Chase & Co., according to a statement Monday. JPMorgan will also provide $20 billion of debt financing.

The transaction will shore up Goldman’s position as the No. 1 merger-and-acquisition adviser, a position it’s held for the past eight years, while bringing No. 3 JPMorgan a step closer to runner-up Morgan Stanley.

It’s not totally surprising that ...