Activision Blizzard, Inc. (Nasdaq: ATVI) intends to release its
first quarter 2022 results at approximately 4:30 a.m. Pacific Time
(7:30 a.m. Eastern Time) on Monday, April 25, 2022.
As announced on January 18, 2022, Microsoft plans to acquire
Activision Blizzard for $95.00 per share in an all-cash
transaction. The transaction is subject to customary closing
conditions and completion of regulatory review and Activision
Blizzard's stockholder approval. The transaction, which is expected
to close in Microsoft’s fiscal year ending June 30, 2023, has been
approved by the boards of directors of both Activision Blizzard and
Microsoft.
In light of the proposed transaction with Microsoft, and as is
customary during the pendency of an acquisition, Activision
Blizzard will not be hosting a conference call, issuing an earnings
presentation, or providing financial guidance in conjunction with
its first quarter 2022 earnings release.
About Activision Blizzard
Our mission, to connect and engage the world through epic
entertainment, has never been more important. Through communities
rooted in our video game franchises we enable hundreds of millions
of people to experience joy, thrill and achievement. We enable
social connections through the lens of fun, and we foster purpose
and a sense of accomplishment through healthy competition. Like
sport, but with greater accessibility, our players can find purpose
and meaning through competitive gaming. Video games, unlike any
other social or entertainment media, have the ability to break down
the barriers that can inhibit tolerance and understanding.
Celebrating differences is at the core of our culture and ensures
we can create games for players of diverse backgrounds in the 190
countries our games are played.
As a member of the Fortune 500 and as a component company of the
S&P 500, we have an extraordinary track record of delivering
superior shareholder returns for over 30 years.
Our enduring franchises are some of the world’s most popular,
including Call of Duty®, Crash Bandicoot™, Warcraft®, Overwatch®,
Diablo®, StarCraft®, Candy Crush™, Bubble Witch™, Pet Rescue™ and
Farm Heroes™. Our sustained success has enabled the company to
support corporate social responsibility initiatives that are
directly tied to our franchises. As an example, our Call of Duty
Endowment has helped find employment for over 90,000 veterans.
Learn more information about Activision Blizzard and how we
connect and engage the world through epic entertainment on the
company's website, www.activisionblizzard.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the “safe harbor” provisions of the United
States Private Securities Litigation Reform Act of 1995 with
respect to the proposed transaction between Microsoft Corporation
(“Microsoft”) and Activision Blizzard, Inc. (“Activision
Blizzard”), including statements regarding the benefits of the
transaction, the anticipated timing of the transaction and the
products and markets of each company. These forward-looking
statements generally are identified by the words “believe,”
“project,” “predicts,” “budget,” “forecast,” “continue,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “could,” “should,” “will,” “would,”
“will be,” “will continue,” “will likely result,” and similar
expressions (or the negative versions of such words or
expressions). Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this press release, including but not limited to: (i)
the risk that the transaction may not be completed in a timely
manner or at all, which may adversely affect Activision Blizzard’s
business and the price of the common stock of Activision Blizzard,
(ii) the failure to satisfy the conditions to the consummation of
the transaction, including the adoption of the merger agreement by
the stockholders of Activision Blizzard and the receipt of certain
governmental and regulatory approvals, (iii) the occurrence of any
event, change or other circumstance that could give rise to the
termination of the merger agreement, (iv) the effect of the
announcement or pendency of the transaction on Activision
Blizzard’s business relationships, operating results, and business
generally, (v) risks that the proposed transaction disrupts current
plans and operations of Activision Blizzard or Microsoft and
potential difficulties in Activision Blizzard employee retention as
a result of the transaction, (vi) risks related to diverting
management’s attention from Activision Blizzard’s ongoing business
operations, (vii) the outcome of any legal proceedings that may be
instituted against Microsoft or against Activision Blizzard related
to the merger agreement or the transaction, (viii) the ability of
Microsoft to successfully integrate Activision Blizzard’s
operations, product lines, and technology, the impact of the
COVID-19 pandemic on Activision Blizzard’s business and general
economic conditions, (ix) restrictions during the pendency of the
proposed transaction that may impact Activision Blizzard’s ability
to pursue certain business opportunities or strategic transactions
and (x) the ability of Microsoft to implement its plans, forecasts,
and other expectations with respect to Activision Blizzard’s
business after the completion of the proposed merger and realize
additional opportunities for growth and innovation. In addition,
please refer to the documents that Microsoft and Activision
Blizzard file with the Securities and Exchange Commission (the
“SEC”) on Forms 10-K, 10-Q and 8-K. These filings identify and
address other important risks and uncertainties that could cause
events and results to differ materially from those contained in the
forward-looking statements set forth in this press release.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Microsoft and Activision Blizzard assume no
obligation and do not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Additional Information and Where to Find It
In connection with the transaction, Activision Blizzard has
filed with the SEC and mailed to Activision Blizzard stockholders
entitled to vote at the special meeting to approve the transaction
a definitive proxy statement on March 21, 2022 (as amended or
supplemented from time to time, the “definitive proxy statement”).
INVESTORS AND SECURITY HOLDERS OF ACTIVISION BLIZZARD ARE URGED TO
READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS
THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE
TRANSACTION THAT ACTIVISION BLIZZARD HAS FILED OR WILL FILE WITH
THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY DO OR WILL CONTAIN
IMPORTANT INFORMATION ABOUT ACTIVISION BLIZZARD AND THE
TRANSACTION. The definitive proxy statement and other relevant
materials in connection with the transaction (when they become
available), and any other documents filed by Activision Blizzard
with the SEC, may be obtained free of charge at the SEC’s website
(http://www.sec.gov) or at Activision Blizzard’s website
(https://investor.Activision.com) or by writing to Activision
Blizzard, Investor Relations, 2701 Olympic Boulevard, Building B,
Santa Monica, CA 90404.
Activision Blizzard and certain of its directors and executive
officers and other members of management and employees may be
deemed to be participants in the solicitation of proxies from
Activision Blizzard’s stockholders with respect to the transaction.
Information about Activision Blizzard’s directors and executive
officers and their ownership of Activision Blizzard’s common stock
is set forth in the definitive proxy statement. To the extent that
holdings of Activision Blizzard’s securities have changed since the
amounts printed in the definitive proxy statement, such changes
have been or will be reflected on Statements of Change in Ownership
on Form 4 filed with the SEC. Information regarding the identity of
the participants, and their direct or indirect interests in the
transaction, by security holdings or otherwise, are set forth in
the definitive proxy statement and other materials filed with the
SEC in connection with the transaction.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220411005278/en/
Activision Blizzard, Inc.
Investors and Analysts: ir@activisionblizzard.com or Press:
pr@activisionblizzard.com
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