IT House April 29 news, at today’s special meeting, Activision Blizzard shareholders have voted to approve Microsoft’s acquisition of the company,Over 98% voted in favorproposed transaction.
Bobby Kotick, CEO of Activision Blizzard, said: “Today’s overwhelming shareholder vote confirms our shared belief that together with Microsoft, we will be better equipped to create great value for our players, more opportunities for our employees, and Continue to focus on being a welcoming, respectful and inclusive workplace.”
However, that doesn’t mean the deal has gone through, IT Home understands that it was reported in February that the FTC would conduct an antitrust investigation into the acquisition to determine whether it constituted unfair competition.
On Wednesday, local time, Activision Blizzard’s shares fell, creating the lowest point since Microsoft announced a $68.7 billion acquisition plan in January.The main reason for the sharp drop in the stock price is that Activision Blizzard’s first-quarter earnings report missed analysts’ expectations.
The deal is expected to close by the end of Microsoft’s fiscal year ending June 30, 2023.
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