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Microsofts pursuit of activision blizzard: examining deal structure and financing in a pre- acaquisition context

2025-01-23Dissertação de mestrado Acesso aberto
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datacite.subject.fosCiências Sociais::Economia e Gestão
dc.contributor.advisorSilva, Rui
dc.contributor.authorEngl, Susanna
dc.date.accessioned2026-02-20T16:48:35Z
dc.date.available2026-02-20T16:48:35Z
dc.date.issued2025-01-23
dc.date.submitted2024-12-17
dc.description.abstractThis case study examines Microsoft's acquisition of Activision Blizzard from a corporate finance perspective, focusing on deal structuring and financing. The analysis compares an asset deal versus a share deal, concluding that a share deal is the most efficient approach, as it ensures full control over Activision Blizzard’s assets while avoiding the complexities of asset-by-asset transfers. Further evaluation of payment methods favors an all-cash transaction over stock, preventing shareholder dilution and allowing Microsoft to retain the full value of expected synergies. For financing, internal funding is identified as the optimal solution, enabling swift execution, avoiding negative market signals, and eliminating borrowing costs. The findings confirm Activision Blizzard as a strategically and financially compelling target.eng
dc.identifier.tid204129419
dc.identifier.urihttp://hdl.handle.net/10362/200546
dc.language.isoeng
dc.relationUID/ECO/00124/2013
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/
dc.subjectAcquisition method
dc.subjectFinancing method
dc.subjectMergers & acquisitions
dc.subjectMultiples
dc.subjectPayment method
dc.subjectVideo gaming industry.
dc.titleMicrosofts pursuit of activision blizzard: examining deal structure and financing in a pre- acaquisition contexteng
dc.typemaster thesis
dspace.entity.typePublication
thesis.degree.nameA Work Project, presented as part of the requirements for the Award of a Master’s degree in Management from the Nova School of Business and Economics

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NSBE - MA Dissertations