Microsoft-Activision deal gives merger speculators a new darling
One AmericaJan 20, 2022
Microsoft announced that it will pay almost $69 billion to acquire Activision, maker of the some of the world's most popular video games.
Sexual harrassment and discrimination allegations have plagued Activision and its subsidiary Blizzard Entertainment, depressing the company's value and making it attractive to bidders.
The merger--and others like it--will be a potential bonanza for hedge funds and other firms focused on event-driven and merger-arbitrage investment strategies.
This is more than twice as much money as recently pledged to fight poverty in the world's poorest countries. The rich world is investing in the well-funded entertainment industry while poor countries struggle with poverty, disease and climate change.