Microsoft’s acquisition of Activision “succeeds” in overcoming its first hurdles
Over 98% of shareholders voted in favor of passing the deal
Today, Microsoft’s acquisition of Activision Blizzard was passing through the first obstacles that could have failed, which is the vote of shareholders, which will play a large and effective role in the success of the deal or not.
A short while ago, Activision Blizzard announced (via Businesswire), that its shareholders approved Microsoft’s proposal to acquire it at the shareholders’ meeting held earlier today. Over 98% of shareholders voted in favor of passing the proposed transaction.
On January 18, 2022, Microsoft announced plans to acquire Activision Blizzard for $95.00 per share in an all-cash transaction. Subject to the usual closing conditions and completion of the regulatory review. The proposed transaction is expected to expire in Microsoft’s fiscal year ending June 30, 2023.
The following was announced in the announcement of the voting results:
Today’s overwhelmingly supportive vote by our shareholders underscores our shared belief that we, along with Microsoft, will be in a better position to create significant value for our players, greater opportunities for our employees, and continue our focus on becoming an inspiring example.
The full results of the special meeting will be reported on Form 8-K to be submitted to the US Securities and Exchange Commission early next week, after certification by Activision Blizzard’s election inspector.
As for the deal, it remains another important step, which is to cross the barrier of members of the Antitrust Committee in the administration of US President Joe Biden, as they will scrutinize this deal in order to try to intercept or stop any monopoly operation that violates American laws.
As what raises the most concerns about the failure of this deal, according to Matt Perrault of New Street Research LLC, is the sharp statements by US President Joe Biden’s antitrust enforcers and auditors, in addition to the fact that completing this deal will also need the approval of other governments, including: That is the European Union and China.