Activision Blizzard Shareholders Approve $68.7 Billion Microsoft Deal
Activision Bizzard announced today its stockholders have approved Microsoft’s proposal to acquire the company, with more than 98 percent of shareholders voting in favor of the transaction.
Microsoft announced the reported $68.7 billion acquisition in January. A Microsoft press release confirmed the company would pay $95.00 per Activision Blizzard share in an all-cash transaction. The acquisition is making progress as this approval is a significant step in the lengthy process.
“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,” Activision Blizzard CEO Bobby Kotick said in a press release.
This acquisition pushes Microsoft into the third-biggest spot based on revenue behind Tencent and Sony. The acquisition means massive titles like Call of Duty, Diablo, Overwatch, and Starcraft will fall under the Microsoft umbrella.
The transaction is expected to close in Microsoft’s fiscal year, ending on June 30, 2023, and is “subject to customary closing conditions and the completion of regulatory review.”