✖ Earlier this year, Microsoft made huge waves in the video game industry when it announced its intent to purchase Activision Blizzard. The deal isn't set to go through until early next year, but there are a number of potential hurdles that must be cleared before the purchase can go through. Shareholders are set to vote on the proposed merger on April 28th, but SOC Investment Group is pushing for them to vote no.
Last year, allegations began to emerge regarding racism, sexism, and a"frat boy culture" at Activision Blizzard. While the company has made attempts to turn things around, SOC Investment Group argues that"Activision board's incompetent handling" of the crisis has depressed the share price. The group points to the average value of the company's shares in the first half of 2021, before those allegations started to emerge. That average was $94.37, with a high of $103.81.
The group also believes that a purchase by Microsoft, or any other group, would not be viable"given the shift in the climate of anti-trust enforcement, as well as evident sources of potential harms to competition stemming from the merger." Multiple U.S.
SOC Investment Group owns"substantial" shares in Activision Blizzard, so the group's opinion could hold some weight. For now, we'll have to keep an eye on how shareholders will vote later this month, and the latest on the FTC investigation. Do you think Microsoft's purchase of Activision Blizzard will be approved by shareholders? Do you think the company's culture would improve under Microsoft? Let us know in the comments or share your thoughts directly on Twitter at @Marcdachamp to talk all things gaming!
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