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Activision Blizzard Microsoft Acquisition Approved by Shareholders

April 28, 2022

By: TechRaptor Staff

 
 

The Activision Blizzard Microsoft acquisition has been approved by Activision Blizzard shareholders. This deal is expected to be completed by June 30, 2023.

Microsoft announced its intention to purchase Activision Blizzard earlier this year. There has been some legal trouble over this deal, but it appears that that was not an issue that could prevent it from going forward.

 

A press release states that more than 98% of Activision Blizzard's (ATVI) shareholders have voted in a Special Meeting that is pending certification by Activision Blizzard's Inspector of Election. At this time, it appears that the vote went well -- Activision Blizzard CEO Bobby Kotick says that it was "overwhelmingly supportive."

"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," read a quote from Kotick.

 
 

When Will the Activision Blizzard Microsoft Acquisition Complete?

The Activision Blizzard Microsoft acquisition is expected to be completed by the end of Microsoft's Fiscal Year 2022. That means that all of the details should be finalized by or before June 30, 2023.

The announcement made in today's press release precedes the filing of a Form 8-K. Form 8-K is a document that must be filed by corporations whenever there are any "unscheduled material events or corporate changes at a company that could be of importance to the shareholders" according to Investopedia. More details will be made available when the form is filed early next week.

 
 

It appears that there is little to stop this $68.7bn deal from going through. However, the proposed acquisition has already attracted one lawsuit; it is entirely possible that one or more legal issues may emerge over the next year.

Activision Blizzard has been heavily criticized over allegations of toxic workplace culture and sexual harassment. These criticisms have come from several U.S. state treasurers, the heads of both PlayStation and Xbox, and a group of activist shareholders, among many others. The company is also embroiled in lawsuits, unionization disputes with staff, and conflicts with government agencies.