Microsoft’s announcement of a pending acquisition of Activision Blizzard for a sum of about $69 billion is one of the biggest news stories the games industry has seen in years, if not ever, but with any deal of this kind of magnitude, there are a lot of moving pieces involved before things can be finalized. In this particular cases, one of steps was for Activision Blizzard to get the approval of its shareholders for the same, and it seems that hurdle has now been cleared.
Activision Blizzard has announced that its shareholders have voted to approve the Xbox deal. In a recent Special Meeting, more than 98% of all company shares voted in favour of being acquired by Microsoft. The deal is valued at $95.00 per share in an all-cash transaction.
“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 Activision Blizzard CEO Bobby Kotick, whose position at the company post-acquisition still remains unclear.
The acquisition is set to be finalized by June 30, 2023, though it will have to be reviewed and approved by the United States Securities and Exchange Commission (or the SEC), while the Federal Trade Commission (FTC) will also be handling an antitrust review of the deal. Until that happens, the company will continue to operate independently.