Activision Blizzard Shares No Longer Trade on Exchanges Due to Microsoft Acquisition
The trading of shares of the well-known gaming giant Activision Blizzard (trading symbol $ATVI) was suspended amid the acquisition by Microsoft Corporation. On October 13, 2023, at 7:50 PM Eastern Time, the shares were removed from trading on NASDAQ.
The United States’ decision not to obstruct the deal, followed by the British regulators’ willingness to reconsider their previously negative stance on the merger, significantly increased the value of Activision Blizzard shares. The day before trading suspension, their value increased by 10%.
Activision Blizzard was founded in 2008 as a result of the merger between Activision and Blizzard Entertainment. Prior to the merger, Blizzard was part of the French media conglomerate Vivendi Universal. The union, which cost $18.9 billion, proved beneficial to both sides: Activision was able to strengthen its financial performance, while Blizzard received support for its long-term projects.
The company specializes in the development and distribution of video games for smartphones, consoles, and PCs. Activision Blizzard also earns revenue from esports leagues, digital advertising, and in-game content sales. The company has 10,000 employees, and its games are popular with nearly 400 million active users. The company’s net income amounted to $8.1 billion in 2020.
The last day when Activision Blizzard shares were available for trade on the main market was October 11, 2023. The merger with Microsoft, under which Activision Blizzard became its subsidiary, involves a payment of $95 per ATVI share. Initially, the deal was expected to be completed by July 18, 2023.
In light of these events, the Saint Petersburg Exchange decided to exclude Activision Blizzard Inc. (ISIN US00507V1098) shares from the listing and to cease organized trading. Investor settlements followed the terms and time frames set by international depositories. The allocation of assets received as a result of corporate events will be carried out taking into account Euroclear-imposed restrictions.
As a result of these changes, as of November 1, 2023, Activision Blizzard was excluded from the GD-D40 index and replaced by Huuuge Games.
Huuuge Games focuses on developing casino games based on interaction and social elements. Games such as “Huuuge Casino” and “Billionaire Casino” quickly gained popularity among the target audience due to their exciting gameplay and the option to interact with other players from around the world.