Microsoft to acquire Activision Blizzard for $95/share all-cash ($68.7B)

MICROSOFT CORP

All-cash purchase at $95.00 per share; total enterprise value $68.7B inclusive of net cash.
Expected close in MSFT's fiscal year ending June 2023; subject to ATVI shareholder and regulatory approvals.
Bobby Kotick remains Activision Blizzard CEO, reporting to Microsoft Gaming CEO Phil Spencer after close.
Adds ~400M monthly active players and franchises including Call of Duty, Warcraft, Diablo, Overwatch, Candy Crush.
Deal is accretive to non-GAAP EPS; Microsoft will become world's third-largest gaming company by revenue.

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