Microsoft’s Strategic Move: Exchanging Activision Blizzard’s Outstanding Notes in Merger Process

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Microsoft and Activision Blizzard have announced private exchange offers and consent solicitations in relation to their upcoming merger. Microsoft will offer to exchange all outstanding notes issued by Activision Blizzard for new Microsoft notes and cash.Bullet Points:

Microsoft and Activision Blizzard Kickstart Private Exchange Offers

Microsoft Corporation and Activision Blizzard announced the initiation of private exchange offers and consent solicitations in relation to their impending merger.

Understanding the Merger

As part of the merger, Activision Blizzard will survive as a wholly owned subsidiary of Microsoft. Microsoft is offering to exchange any outstanding notes issued by Activision Blizzard for new notes issued by Microsoft and cash.

Exchange Offers Details

The exchange offer includes up to $3,650,000,000 aggregate principal amount of new notes issued by Microsoft and cash. The exchange consideration and total exchange consideration vary for each series of existing Activision Blizzard notes.

“Microsoft Corporation and Activision Blizzard announced that, in connection with the previously announced merger of Activision Blizzard with and into a wholly owned subsidiary of Microsoft, Microsoft has commenced offers to Eligible Holders to exchange any and all outstanding notes issued by Activision Blizzard.”

What’s New?

Concurrently with the exchange offers, Activision Blizzard is soliciting consents from eligible holders to adopt certain proposed amendments. This is being done at Microsoft’s request.

What’s Important to Know?

The merger and exchange offers mark a significant step in the tech industry, potentially reshaping the landscape of gaming and technology. This move underlines Microsoft’s commitment to expanding its gaming portfolio.

“Activision Blizzard will survive as a wholly owned subsidiary of Microsoft. This move underlines Microsoft’s commitment to expanding its gaming portfolio.”

In conclusion, the merger between Microsoft and Activision Blizzard is a significant development in the tech industry. The exchange offers and consent solicitations initiated by the two tech giants mark a crucial step in this merger process.

  • Microsoft and Activision Blizzard are working towards a merger.
  • Microsoft has started offers to exchange Activision Blizzard’s outstanding notes.
  • The exchange includes new Microsoft notes and cash.
  • Activision Blizzard is soliciting consents to adopt proposed amendments.
  • The total exchange consideration involves various series of Existing Activision Blizzard Notes.
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