Bloomberg reports that Microsoft''s shareholders approved the offer of $95 per share. Following the acquisition, the stock price had dropped to $82, bringing anyone who purchased it to a loss of $13 per share profit when the transaction was complete. The current share price has dropped to $77, implying that investors aren''t sure the merger will be finalized.
The US Federal Trade Commission (FTC) is looking into the acquisition, but acquiring Activision Blizzard would make Microsoft the third-largest video game company after Tencent and Sony, and that''s brought the attention of regulators.
Last month, a group of organizers asked the Federal Trade Commission to monitor Microsoft''s takeover, implying that the agreement might have "anticompetitive horizontal consequences." The statement stated that the agreement could also have a detrimental impact on some Blizzard employees'' unionization efforts, implying that no US Microsoft employee is affiliated to unions.
The Federal Trade Commission (FTC) sided with Nvidia''s acquisition of Arm earlier this year, having previously sued to prevent the purchase from going through. Microsoft has also had to get approval from European Union and China.
Not all Activision Blizzard shareholders want the purchaseout complete. SOC Investment Group, an activist group with a small share, has encouraged other shareholders to devote the deal. It believes the company is being undervalued due to "the board''s incompetent handling" of the sexual harassment lawsuits it has faced, and would rather the board be replaced so Blizzard may restore its deteriorating reputation.
The merger has come to an end until June 30, 2023.