It’s still unclear whether the $69 billion deal between Microsoft and Activision Blizzard will actually materialize. None of the competition officials currently investigating the takeover have given their approval – and recently even famous US senators have called for stricter examination.
In a letter to the FTC that the demo wall street journal Four senators, including Elizabeth Warren and Bernie Sanders, have asked the US Commerce Board to review whether the proposed transaction could add to the tide of allegations of sexual abuse, harassment and retaliation at Activision Blizzard.
One particular concern: It could allow longtime Activision Blizzard CEO Bobby Kotick to remain in his position until the deal’s scheduled closing in 2023, and possibly receive a hefty severance package. Last summer, more than 1,800 employees sent an open letter demanding Kotick’s resignation.
“Whether the deal allows Kotick to evade responsibility, even though it is attributable to this corporate culture and employees and the public are demanding consequences, it would be an unacceptable outcome of the planned Microsoft acquisition,” the letter reads. If the FTC determines that the acquisition will worsen workers’ bargaining conditions, the agency should reject the deal, the senators demand.
The shareholder still hopes to finalize the deal between Microsoft and Activision Blizzard. Activision Blizzard stock, which is currently down about $14 from its $95 takeover bid, Shows medium term speculative opportunities, Microsoft shares, on the other hand, remain a long-term fundamental investment.
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