United Kingdom Anti-Trust Authority Blocks Microsoft $69 Billion Acquisition of Gaming Giant Activision Blizzard Announced in 2022 January, 3rd Largest Gaming Company Behind Tencent & Sony
27th April 2023 | Hong Kong
United Kingdom anti-trust authority (Competition & Markets Authority) has blocked Microsoft $69 billion acquisition of gaming giant Activision Blizzard announced in 2022 January. Activision Blizzard is the 3rd largest gaming company behind Tencent & Sony. In 2022 January, Microsoft announced to buy entertainment giant Activision Blizzard for $68.7 billion in an all-cash-deal, with Microsoft set to the world’s 3rd largest gaming company by revenue behind Tencent and Sony after the acquisition. Activision Blizzard, a leader in game development and interactive entertainment content publisher, owns popular gaming titles including “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty” and “Candy Crush.” More info below.
” United Kingdom Anti-Trust Authority Blocks Microsoft $69 Billion Acquisition of Gaming Giant Activision Blizzard Announced in 2022 January, 3rd Largest Gaming Company Behind Tencent & Sony “
Microsoft Buys Entertainment Giant Activision Blizzard for $68.7 Billion, 3rd Largest Gaming Company Behind Tencent & Sony
21st January 2022 – Microsoft has announced plans to buy entertainment giant Activision Blizzard for $68.7 billion in an all-cash-deal, with Microsoft set to the world’s 3rd largest gaming company by revenue behind Tencent and Sony after the acquisition. Activision Blizzard, a leader in game development and interactive entertainment content publisher, owns popular gaming titles including “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty” and “Candy Crush.” The acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the metaverse. Activision Blizzard Inc. is listed on NASDAQ, and the transaction is expected to close in 2023.
Microsoft and Activision Blizzard, Deal to Close in 2023
The transaction is subject to customary closing conditions and completion of regulatory review and Activision Blizzard’s shareholder approval. The deal is expected to close in fiscal year 2023 and will be accretive to non-GAAP earnings per share upon close. The transaction has been approved by the boards of directors of both Microsoft and Activision Blizzard.
Goldman Sachs & Co. LLC is serving as financial advisor to Microsoft and Simpson Thacher & Bartlett LLP is serving as legal counsel. Allen & Company LLC is acting as financial advisor to Activision Blizzard and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel.
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