Microsoft is still awaiting approval for its deal to acquire Activision Blizzard and there are some new details on the SEC filing regarding the merger and some updates that have taken place. The new statement says there have been no discussions about Activision Blizzard CEO Bobby Kotick and his potential post-deal position. There’s also potential new detail on the pending California lawsuit against Activision Blizzard.
Kotick is widely expected to leave the company on a deal once the acquisition is complete, but this newcomer claims there have been no talks or negotiations. The change was first reported by Axios’ Stephen Totilo and is new to the official proxy statement. As of April 15, 2022, it reads:
“No discussions or negotiations regarding post-closing employment agreements with Microsoft took place between Microsoft and Mr. Kotick prior to the approval and execution of the Merger Agreement and the transactions contemplated herein, or after such approval and execution as of the date of this release.”
On Friday, Activision added a line to its main filing about its proposed sale to Microsoft, stressing that Microsoft and Bobby Kotick have not discussed or negotiated its post-merger employment status. pic.twitter.com/dWqhxj8TbG
— Stephen Totilo (@stephentotilo) April 18, 2022
The deal must clear several regulatory hurdles before it’s final, and there have already been a few challenges that needed to be resolved. One of them considers the SEC filing “misleading” as there are statements that there is no known unionization effort, although there has been unionization and strike action.
Meanwhile, there is a new report that a top attorney at California’s Department of Fair Employment and Housing (DFEH) resigned last week in protest at the firing of her former boss. Staffer Melanie Proctor sent an email claiming that Governor Newsom of California has “repeatedly requested advance notice of litigation strategy and next steps” and that Newsom’s demands “mimic the interests of Activision counsel.”
A report from Politico said that Activision Blizzard director and board member Casey Wasserman donated $100,000 to the “Stop the Republican Recall of Governor Newsom” campaign, which was documented in campaign funding records.
Through statements through speakers, the Newsom administration denied any interference or other allegations of interference and reiterated its support for the DFEH.
https://www.mmorpg.com/news/microsoft-activision-blizzard-sec-filing-updated-to-say-no-exit-discussions-with-bobby-kotick-have-happened-2000124824 Microsoft-Activision Blizzard SEC filing updated to say no exit talks with Bobby Kotick have taken place