Activision Blizzard shareholders approve $68.7 billion Microsoft deal
(Reuters) – Videogame publisher Activision Blizzard Inc said on Thursday that its shareholders approved Microsoft Corp’s $68.7 billion proposal to buy the “Call of Duty” maker.
More than 98% of the shares voted at a special meeting held earlier in the day were in favor of the proposed transaction, the Santa Monica, California-based company said.
Your capital is at risk
Microsoft said in January it had agreed to acquire Activision Blizzard for $95 per share in the biggest gaming industry deal in history as global technology giants stake their claims to a virtual future.
Activision, which is facing backlash over its response to allegations of internal sexual harassment and discrimination against female employees, missed estimates for first-quarter adjusted sales on Monday, hit by low demand for its latest title “Call of Duty: Vanguard”.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Sriraj Kalluvila)