Starting on page 31 of the document, Microsoft devotes nearly 10 pages detailing the timeline of its talks with Activision. According to the filing, Spencer told Kotick during their November 19th phone call that “Microsoft was interested in discussing strategic opportunities” between the two companies and asked if he had time to talk to Microsoft CEO Satya Nadella the following day.
It turns out the quick pace at which the talks moved was mainly due to all the other companies interested in buying up Activision Blizzard after its stock dived in November. At least four other companies contacted the publisher about a possible acquisition. None of them are named in the SEC filing. However, one notably wanted to just buy Blizzard. Activision didn’t move forward with that option because the company’s board of directors deemed the sale would have been too difficult to pull off.
The document also details the terms of the purchase agreement. If the deal doesn’t go through due to antitrust complications, Microsoft has agreed to pay Activision Blizzard a termination fee of up $3 billion. A few years ago, that’s a possibility Microsoft probably wouldn’t have had to worry about too much, but 2022 finds the company in a very different regulatory environment.
they know what they are doing. sweep in when sentiment is sour. rule 7 i think
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