While the expectation is growing for the important vote of Activision shareholders on the marriage with Microsoft, scheduled for today April 28, the trend of the shares of the American publisher seems to foreshadow the most pessimistic scenario for the two giants of the aspiring sector. to get married.
As pointed out in the latest report by Bloomberg reporters, in recent days the value of Activision Blizzard shares traded on Wall Street has fallen to touch quota. $ 75 per sharea 25% lower value to that offered by the Redmond house to buy the majority package.
Behind the recent depreciation of Activision shares, according to Bloomberg, there would be the distrust of investors on the outcome of the shareholders’ votes and, above all, of the activities carried out by the antitrust authorities called to endorse or block what, to all intents and purposes, would represent one of the largest corporate mergers in the history of the United States based on the approximately 69 billion dollars put on the table by Microsoft to buy the entire corporate (and therefore videogame) asset of Activision, Blizzard Entertainment, King and related subsidiaries.
Behind the pessimism expressed by Wall Street investors, according to the analyst Matt Perault of New Street Research, there would be not only the finding of the “severity” of the Biden administration’s antitrust but also the awareness that the multi-million dollar agreement between Microsoft and Activision Blizzard must also be approved by other governments, such as that of Chinaand supranational organizations such as theEuropean Union. Hence the fibrillation of investors and, consequently, the constant departure of Activision shares from the offer price set by Microsoft.
However, it is of a different opinion Richard Hoeg: the well-known lawyer specializing in acquisitions and deals between hi-tech giants openly criticizes the reconstruction of events provided by Bloomberg and points out that, in his opinion, “There is absolutely no indication that Wall Street is ‘betting on the failure of the deal.’ The ratio between Microsoft’s stock values and Activision continues to be 70/30, and this considering the year of economic fluctuations linked to the ‘inflation. Really, it’s just total and absolute bitches. “.