Fenwick & West represented King Digital Entertainment plc (NYSE: KING), a leading interactive entertainment company for the mobile world, in its definitive agreement under which Activision Blizzard, Inc. (NASDAQ: ATVI), one of the world’s largest interactive gaming companies, 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 Board of Directors for both Activision Blizzard and King unanimously approved the proposed transaction, which is being implemented by means of a scheme of arrangement under Irish law. The transaction is subject to approval by King’s shareholders and the Irish High Court, clearances by the relevant antitrust authorities and other customary closing conditions.
The acquisition will allow the combined company to have a world-class interactive entertainment portfolio. More information about King’s acquisition by Activision Blizzard can be obtained from the company press release.
The Fenwick transaction team included corporate attorneys Mark Stevens, David Michaels, Ken Myers, Lara Foster, Kevin Adams and David He; securities attorneys James Evans and Katherine Duncan; executive compensation and employee benefits attorneys Blake Martell, Gerald Audant and Kristin O’Hanlon; technology transactions attorneys Stephen Gillespie, Jennifer Stanley and Michael Riskin; antitrust attorneys Mark Ostrau and Ashley Walter; securities litigation attorneys Dean Kristy and Felix Lee and tax attorneys Adam Halpern and Ariel Love.