In January this year, Microsoft announced the acquisition of the software giant Activision Blizzard for the price of $ 68.7 billion. Upon completion of the takeover, exclusive rights to renowned gaming brands like Call of Duty, World of Warcraft, Overwatch or Guitar Hero.
So that it can come so far, a special assembly of the shareholders takes place on April 28th. Without a majority consent of investors, the planned merger agreement failed.
That would be quite in the sense of the SOC Investment Group, who asked all the shareholders on Thursday in a letter to vote against the deal:
“This transaction assesses Activision and its future earnings potential are not adequately, for the most part, because it ignores the role that the sexual harassment crisis – and the incompetent handling of the Activision Executive Board – has played in the delay of product publications and the decline of the stock price. “
“We do not believe that the shareholders of Activision should build on a transaction to rebuild the value to ensure the failure of Activision management, security and justice in the workplace, and the failure of the Management Board, constructively on the to react inherent crisis, lost. “
“But we also observe that Activision’s employees have bravely demanded the end of harassment and retaliation within the company at the latest since last July and that they play a crucial role in redesigning corporate culture in the future.”
“We believe that the company is not selling only through a constructive cooperation with its employees – the only asset, the activision, but without which the company can not operate – initiate a real trendy and the confidence of investors in his reputation and its business activities can restore. “
“We urge you to join us to reject the merger proposal from Microsoft and choose a new, competent and dedicated board on the next annual assembly of Activision Blizzard.”
Microsoft had announced shortly after the announcement of the takeover plans, the deal, subject to the final conditions and the financial statements of official reviews, to finalize until summer 2023.