Activision Blizzard stockholders approved Microsoft’s plan to acquire the besieged publisher several months after the initial proposal. In a special meeting held earlier today, more than 98 percent of the shares voted in favour of the transaction.
Head herb Bobby Kotick said that “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.”
While this is a big step for the proposed deal, there are still some hurdles that need to be overcome before this is a signed and sealed situation by the Federal Trade Commission (FTC) following its investigation.
Microsoft’s initial offering to purchase Activision Blizzard was for nearly $70 million — or $95 US per share. If all goes according to plan, the deal will close during the next fiscal year for Microsoft — no earlier than June 30, 2023.