---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-109428"
form_type: "8-K"
ticker: "MSFT"
cik: "0000789019"
company_name: "MICROSOFT CORP"
filed_at: "2023-10-16T23:59:59+00:00"
generated_at: "2026-06-09T23:41:42.225067+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Microsoft commences $3.65B exchange offers for Activision Blizzard notes in merger step

## Summary
- Microsoft launches exchange offers for up to $3.65B of Activision Blizzard notes, offering new Microsoft notes and cash.
- Early tender date Oct 27; holders tendering by then receive $1,000 of new notes plus $1 cash per $1,000 principal.
- Exchange offers conditional on completion of each other; Microsoft may waive conditions at any time.
- Concurrent consent solicitations to eliminate certain covenants, restrictive provisions and events of default from indentures.
- New Microsoft notes not registered; Microsoft to use reasonable efforts to file registration statement within 450 days.

## SEC filing metadata
- accession: 0001104659-23-109428
- form_type: 8-K
- ticker: MSFT
- cik: 0000789019
- company_name: MICROSOFT CORP
- filed_at: 2023-10-16T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/789019/000110465923109428/0001104659-23-109428-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/789019/000110465923109428/tm2328507d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-109428
- JSON: https://secwatch.observer/filing/0001104659-23-109428.json
- Plain text: https://secwatch.observer/filing/0001104659-23-109428.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.