Microsoft-Activision Blizzard — the decisions that defined it | Stratrix

The decisions that made it

The Counterfactual · Decision Forks

Microsoft Didn't Buy Activision for $69 Billion. It Bought a Scandal at a Discount.

The headline says $69B gaming bet. The filings say something colder: $95/share was a roughly 45% premium to a stock cratered by the scandal, yet a discount to its all-time high of around $104 reached months before the trouble started. Then the regulators made Microsoft give away the one piece that justified the price.