In January Microsoft stunned the gaming world by announcing its intention to purchase gaming giant -Activision Blizzard for around $70 billion.
Today in a Special Meeting Activision Blizzard’s shareholders voted to accept the $95.00 per share all-cash offer, with 98% of the shares voting in favour of the proposed transaction.
The deal is expected to boost Microsoft’s Game Pass subscription service with a large library of high-quality exclusive content.
“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.
Subject to customary closing conditions and the completion of regulatory review, the proposed transaction is expected to close in Microsoft’s fiscal year ending June 30, 2023.
