Activision Shareholders Vote to Approve the $69 Billion Microsoft Merger
Activision Blizzard shareholders on Thursday voted overwhelmingly in favor of approving the video game developer’s $69 billion merger with Microsoft, paving the way for the gaming industry’s largest-ever acquisition.
More than 98% of Activision shareholders voted in favor of the deal at a special meeting, following the recommendation of the Santa Monica-based company’s board of directors. While the merger is expected to close by June 2023, the companies still need regulatory approval in the regions they do business in, including the U.S., the U.K., the European Union and China, Activision noted in a recent SEC filing.
Microsoft announced its plans to acquire the “Call of Duty” publisher for $95 per share in January—a premium on Activision’s current stock price, which closed Thursday’s trading at $76.70 per share.
