Sony Corp

Sony - Microsoft's Activision Blizzard Acquisition Shakes Things Up

Equity Bottom-Up
267 Views, 19 Jan 2022 09:27
EXECUTIVE SUMMARY
  • Microsoft has agreed to acquire Activision Blizzard for $95 per share (+45.3% vs. undisturbed) which values the company at $68.7bn in EV. 
  • ATVI had been under pressure since the middle of last year facing various sexual harassment allegations, but CEO Bobby Kotick will not be replaced. 
  • Like with ZeniMax this deal features a demanding valuation for a number of IPs which have seen better days… but there is Call of Duty…
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Mio Kato
Japan/Asia Long-Short
LightStream Research
JapanEquity Bottom-UpEquity Capital Markets

Over 15 years analysing Japanese and Asian stocks from a long/short perspective I focus on cyclically driven sectors su... 

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