Activision Blizzard shareholders have voted in favor of Microsoft’s historic takeover.
Significant new step in the acquisition of Activision Blizzard by Microsoftthe shareholders have just voted and given their consent for this historical transaction.
With a deal proposed at almost 70 billion dollars, Microsoft continues its path towards the acquisition of the studio at the origin of cult licenses such as call of duty, Warcraft, Overwatch and many others.
For Activision Blizzard CEO Bobby Kotick, this news is a step in the right direction: “The overwhelmingly positive vote from our shareholders confirms our shared view that, by partnering with Microsoft, we will be in a better position to create value for our players and better opportunities for our employees (…).”
Not less than 98% of the studio’s shareholders expressed a favorable opinion about the takeover, but this is only the beginning of the formalities.
A long way ahead
Such an unusual transaction cannot be carried out with the simple agreement of both parties, and it will take some time before this takeover is indeed formalized.
In effect, the redemption request will first be observed by specialized authorities around the world to determine whether this transaction is possibly “unfair” or not. It is indeed impossible to carry out transactions which would risk disrupting the market and creating a monopoly and unfair competition. The deadline is marked for June 2023which leaves a large margin of time for analysts to judge this unprecedented situation.
According to some Wall Street experts and investors, the takeover could even fall through. According to these few rumors, the Biden antitrust administration deliberating on competition would be against this takeover and would like to delay it, or even ban it.
A merger in full tension
Questions also arise on the side of the current state of Activision Blizzard and the various lawsuits that the studio and some of its employees will have to face.
The studio has been going through scandals for a year now after investigations revealed a toxic and harassment-prone work culture within the company. Bobby Kotick, CEO of the studio is also accused of having ignored this situation for years.
However, he expresses that the merger with Microsoft will “pursue our goal of becoming a true inspiration and example of a welcoming, respectful and inclusive workplace.”
Activision Blizzard then finds itself in a strange in-between where Microsoft seems to want to save the day and move on to a new chapter while the accusations are linked and the studio is struggling to reach the surface.