Activision Blizzard Shareholders Approve Microsoft's Takeover Bid
98 percent of votes approved of the merger.
On Thursday, Activision Blizzard Inc. shareholders almost unanimously approved the company’s $69 billion USD sale to Microsoft with 98% of votes cast at the Special Meeting in favor of the takeover bid. Microsoft announced its plans to buy Activision for $95 USD per share, an approximately 24% premium over Activision’s current share price, in an all-cash transaction on January 18.
If the deal is completed, it will go down in history as one of the largest mergers in U.S. history and solidify Microsft as the world’s third-largest gaming company.
“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 Bobby Kotick, CEO, Activision Blizzard.
Although shareholder approval is a big milestone for Microsoft, the deal is far from closed as Biden’s antitrust enforcers could still move to block or delay the transaction to prevent monopolization of the industry. The Federal Trade Commission, led by Lina Khan recently blocked Nvidia Corp.‘s acquisition of Arm Ltd. and currently seeks to split off Whatsapp and Instagram from Meta.
Elsewhere in tech, Jack Dorsey says he believes in Elon Musk’s mission for Twitter.
