Activision Blizzard, Inc. (NASDAQ: ATVI) announced today that its stockholders approved Microsoft Corp’s (NASDAQ: MSFT) proposal to acquire the company in a special meeting held today. The vote was overwhelmingly favorable with more than 98% of shareholders approving the deal.
The deal, which was announced on January 18, 2022 will have Microsoft acquire Activision Blizzard for $95.00 / share in an all cash transaction, subject to closing conditions and a regulatory review. The transaction is expected to close on June 30, coinciding with Microsoft’s fiscan year end.
“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 Bobby Kotick, CEO, Activision Blizzard.
This latest development, comes on the heels of legal action, and added regulatory scrutiny, including a lawsuit filed by shareholders in February and the FTC requesting more data on the deal in March.