Activision Shareholders Approve $69B Microsoft Merger

Samson Amore

Samson Amore is a reporter for dot.LA. He previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Samson is also a proud member of the Transgender Journalists Association. Send tips or pitches to samsonamore@dot.la and find him on Twitter at @Samsonamore. Pronouns: he/him

Activision Shareholders Approve $69B Microsoft Merger
Courtesy of Activision Blizzard.

Activision Blizzard shareholders on Thursday voted overwhelmingly in favor of approving the video game developer’s $69 billion merger with Microsoft, paving the way for the gaming industry’s largest-ever acquisition.


More than 98% of Activision shareholders voted in favor of the deal at a special meeting, following the recommendation of the Santa Monica-based company’s board of directors. While the merger is expected to close by June 2023, the companies still need regulatory approval in the regions they do business in, including the U.S., the U.K., the European Union and China, Activision noted in a recent SEC filing.

Microsoft announced its plans to acquire the “Call of Duty” publisher for $95 per share in January—a premium on Activision’s current stock price, which closed Thursday’s trading at $76.70 per share.

“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,” Activision CEO Bobby Kotick said in a press release.

Despite Thursday’s vote, antitrust regulators at the Federal Trade Commission or the Department of Justice could still look to block the deal for fears that it would have an anticompetitive effect on the gaming industry. Activision is already facing regulatory scrutiny over alleged sexual harassment and discrimination in its workplace—issues that have prompted several current and former employees to file lawsuits against the company.

In its first-quarter earnings report this week, Activision reported a year-on-year slump in both sales and profits, citing lower-than-expected demand for its latest “Call of Duty: Vanguard” title.

https://twitter.com/samsonamore
samsonamore@dot.la

Subscribe to our newsletter to catch every headline.

Cadence

Plus Capital Partner Amanda Groves on Celebrity Equity Investments

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
PLUS Capital​’s Amanda Groves.
Courtesy of Amanda Groves.

On this episode of the L.A. Venture podcast, Amanda Groves talks about how PLUS Capital advises celebrity investors and why more high-profile individuals are choosing to invest instead of endorse.

As a partner at PLUS, Groves works with over 70 artists and athletes, helping to guide their investment strategies. PLUS advises their talent roster to combine their financial capital with their social capital and focus on five investment areas: the future of work, future of education, health and wellness, the conscious consumer and sustainability.

Read more Show less

Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays

David Shultz

David Shultz is a freelance writer who lives in Santa Barbara, California. His writing has appeared in The Atlantic, Outside and Nautilus, among other publications.

Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays
Courtesy of Rivian.

Rivian’s stock lost 7% yesterday on the back of news that the company could face delays in fulfilling Amazon’s order for a fleet of electric delivery vans due to legal issues with a supplier. The electric vehicle maker is suing Commercial Vehicle Group (CVG) over a pricing dispute related to the seats that the supplier promised, according to the Wall Street Journal.

Read more Show less
RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending