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Activision Blizzard to Acquire King Digital Entertainment for $5.9B, $18.00/Share in Cash

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Activision Blizzard, Inc. (Nasdaq: ATVI) and King
Digital Entertainment plc (NYSE: KING) announced Monday, the
signing of a definitive agreement under which ABS Partners C.V. ("ABS
Partners"), a wholly owned subsidiary of Activision Blizzard, will
acquire all of the outstanding shares of King for $18.00 in cash per
share, for a total equity value of $5.9 billion (the "Acquisition"). The
$18.00 per share purchase price implies a 20% premium over King's 30
October 2015 closing price, a 26% premium over King's 30 October 2015
enterprise value (which excludes net cash), a 23% premium over King's
one month volume weighted average price per share and a 27% premium over
King's three month volume weighted average price per share. The boards

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Posted-In: News M&A Press Releases

 

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