Activision Blizzard, Inc. $ATVI

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This will be an extremely brief write-up given the well known and multifaceted write-ups of the ATVI and Microsoft MSFT 0.89%↑ merger opportunity.

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Parity Calculation

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Terms: 1 Activision Blizzard, Inc. ATVI -0.28%↓ = $95 cash proceeds if deal closes. ($75.96 as of close of business 12/7/2022)

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Gross Spread: $19.04

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Overaching Timeline

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In the three years prior to COVID-19, Activision Blizzard had a trading range of $40 and $85 between March 2017 to March 2020. Two months before the acquisition announcement by Microsoft, the trading range was $56 to $70.

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1/18/2022 Microsoft announced it will acquire Activision Blizzard for $95.00 per share, in an all-cash transaction valued at $68.7 billion.

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