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Home » Business » Activision Blizzard stockholders back $68.7 billion Microsoft deal

Activision Blizzard stockholders back $68.7 billion Microsoft deal

In a press release, Activision Blizzard, Inc. announced that more than 98 percent of its stockholders approve the acquisition proposal from Microsoft. To recall, the American tech company declared last January its plans to acquire Activision Blizzard at USD 95PHP 5,575INR 8,051EUR 90CNY 691 per share, the entire deal amounting to around USD 68.7PHP 4,032INR 5,822EUR 65CNY 500 billion.

The transaction is expected to be concluded during the fiscal year ending on June 30, 2023, and is anticipated to give Microsoft a substantial market share in the gaming industry.

Microsoft acquires Activision

“Today’s overwhelmingly supportive vote by our stockholders confirms our shared belief that, combined with Microsoft, we will be even better positioned to create great value for our players, even greater opportunities for our employees, and to continue our focus on becoming an inspiring example of a welcoming, respectful, and inclusive workplace,” said Activision Blizzard CEO Bobby Kotick.

The Microsoft offer is higher than Activision Blizzard’s current stock price, which ranges between USD 76PHP 4,460INR 6,441EUR 72CNY 553 and USD 80PHP 4,695INR 6,780EUR 76CNY 582 in the past month. This premium is also higher than what Tesla and SpaceX CEO Elon Musk has offered in the acquisition of Twitter. At USD 54.20PHP 3,181INR 4,593EUR 52CNY 394 per share, the full amount of the transaction is placed at USD 44PHP 2,582INR 3,729EUR 42CNY 320 billion.

Despite this overwhelming support from Activision Blizzard, further hurdles remain in the process. Among them would include the United States Federal Trade Commission (FTC), which is set to review the deal.

“Evidence suggests that decades of mergers have been a key driver in consolidation across industries, with this latest merger wave threatening to concentrate our markets further,” FTC Chair Lina Khan said in a press conference earlier this year.

Nonetheless, analysts indicate that even if an FTC challenge does not ultimately prevail, a protracted legal fight might influence the concerned companies to abandon the deal.

Arius Lauren Raposas
Arius Lauren Raposas
A public servant with a heart for actively supporting technology and futures thinking, responding accordingly to humanity's needs and goals, increasing participation of people in issues concerning them, upholding rights and freedoms, and striving further to achieve more despite our limited capacities. In everything, to God be all the glory.
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