The ink’s not dry just yet, though
The next step in Microsoft’s deal to buy Activision Blizzard took place today. Activision Blizzard stockholders voted to approve the proposal today, in favor of the acquisition.
According to anews releasefrom Activision Blizzard, more than 98% of shares voted at today’s meeting went in favor of the proposed transaction. Theplan announced on Jan. 18would see Microsoft acquire theCall of Dutypublisher at $95 per share.
That’s not the end of it, however. The Activision-Microsoft deal will be reviewed by the Federal Trade Commission, whichhas blocked some prior tech dealslike Nvidia’s attempted $40 billion acquisition of UK-based semiconductor firm Arm.
Lingering questions
Anew report from Bloombergalso suggests that some on Wall Street are anticipating this deal won’t go through. Microsoft’s offer is well over Activision Blizzard’s current share price, which Bloomberg says indicates investors see risk. Antitrust talk also has some investors concerned, according to Bloomberg’s source.
Activision Blizzard has remained a subject of scrutiny since the California Department of Fair Employment and Housingfiled suit against the publisher last year. Recently, a California lawyeralleged interference in the caseafter resigning.
The publisher also announced plans to move itsU.S.-based QA workers to full-time with benefits. Yet a later report indicated that Raven workers,pushing to have their union recognized, won’t receive new pay initiatives. And then there’sthe lingering questionof whether current Activision Blizzard CEO Bobby Kotick will stay CEO after the acquisition, either.
It’s all a bit messy, even as the Blizzard Entertainment side has ramped up public-facing game efforts. TheWorld of Warcraftteam just announced its new expansionDragonflight. And theOverwatch 2public beta is, as of this writing,underway.
Confirmation of whether this deal will close is expected by June 2023, so it might be a while until we know for sure whether it all comes together.
