As we mentioned a few weeks ago, Activision Blizzard shareholders were invited to vote today. And the result is clear, 98% of the shareholders agree.
The shareholders of the group confirm the takeover by Microsoft
The outcome of the vote has not yet been determined, but there was a good chance that the shareholders would vote in favor of the takeover. Activision Blizzard announced today that its shareholders approved Microsoft Corporation’s proposal to acquire Activision Blizzard at a special meeting of shareholders held earlier today.
More than 98% of the shares voted at the special meeting voted in favor of the proposed transaction with Microsoft. A few weeks ago, investment group SOC asked Activision shareholders to vote against Xbox’s takeover, but it was a very minority and carried little weight in the balance.
On January 18, Microsoft announced its intention to acquire Activision Blizzard for $95.00 per share, a transaction expected to close during Microsoft’s fiscal year ended June 30, 2023.
The vote was advisory only, but shows the confidence of shareholders in this takeover. It must be said that Microsoft is doing very well financially, while Activision Blizzard stock has lost 15% of its value for a year at the time of writing. It is trading around $72 today, while it rose to over $100 in February 2021.
Activision Blizzard CEO Bobby Kotick welcomed the outcome of today’s voting.
Today’s overwhelming endorsement from our shareholders confirms our shared belief that together with Microsoft we will be even better positioned to create great value for our players and even more opportunities for our employees, and remain focused on being an inspiring example for become a welcoming, respectful and inclusive workplace.
Having been mired in various cases of toxic work environments and harassment for months, Activision Blizzard seems to have found an interesting way out with Microsoft’s takeover for Xbox. Last week we learned that the boards of Activision and Microsoft had approved the acquisition and now all that is missing is confirmation from the responsible authorities on the various continents.