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[Vox Machina]

I'm going by what I remember from memory and the judge said appeal the decision, so maybe he means a new draft for appeals, either way he seemed like he was begging for a Sony or Google to give him a dissenting voice to the collusion and give him an excuse to reset back to the phase one he mentioned a few times.

That's certainly a read. Not one I personally agree with, but it's a read, for sure.

How does that one specific quote contradict the existence of what I recalled? I don't follow the point. Either way the judge has read the report and has locked in on CoD, and even floated the idea that the material difference was related to CoD no longer being significant - paraphrasing, obviously- as a means to throw out the CMA draft decision, which remains and presents the contradiction he was mostly angry about.

I don't think the Judge mentioned CoD once.

 

[FoxMcChief]

I think my biggest complaint about this acquisition is that it's slowing down further acquisitions.

 

[feynoob]

at least we have each other for a bit longer! lol

This is us so far.

 

[mayham2199]

Now if the final deal ends up being a big gut punch to MS and Activision where it sure seemed they were desperate giving away the farm then that's different. CMA did a great job being last man standing.

So we'll all have to see what the final deal is.

This is really all I'm waiting to see at this point before I decide if the CMA really got put in their place or not.

 

[PaintTinJr]

That's certainly a read. Not one I personally agree with, but it's a read, for sure.



I don't think the Judge mentioned CoD once.

I'm 99.9% certain he mentioned it at least that once, and then when he referenced the media coverage of the timing of the Sony deal, although I may have conflated that, only because they got a worse deal through being served up by the CMA and only got CoD for 10years out of the massive library of Activision games they've published on their platform for over two decades.

 

[Iced Arcade]

I think my biggest complaint about this acquisition is that it's slowing down further acquisitions.

for me it's the shitty gaming events.

 

[adamsapple]

I think my biggest complaint about this acquisition is that it's slowing down further acquisitions.

It's the classic "would you rather fight one horse sized duck or 100 duck sized horses".

 

[GHG]

I think my biggest complaint about this acquisition is that it's slowing down further acquisitions.

I that case then I never want it to end.

 

[Vox Machina]

I think my biggest complaint about this acquisition is that it's slowing down further acquisitions.

I'd be very surprised if Amazon doesn't have lawyers sleeping in EA's office at the moment working out acquisition details with them.

 

[Topher]

Any of you guys ever have it happen where you are about to put an emoji on a post and then someone else posts and shifts everything up and you put the emoji on the wrong post?

For instance, above I was about to put the "Praise the Sun" emoji on Iced Arcade 's post and that that jackass GHG posts and shifts everything up and makes me put the emoji on adamsapple 's post.

So then I go back and take off the "Praise the Sun" from adamsapple but then realize that makes me look like a dick so I leave it on.

All of this because GHG is a jackass.

love ya bro

 

[Vox Machina]

I'm 99.9% certain he mentioned it at least that once, and then when he referenced the media coverage of the timing of the Sony deal, although I may have conflated that, only because they got a worse deal through being served up by the CMA and only got CoD for 10years out of the massive library of Activision games they've published on their platform for over two decades.

They definitely talked about the Sony deal because thats what will constitute the MCC (Material Change of Consequence) that enables the derogation from the Final Report when making the Final Order.

(Also there's something inherently funny about Sony making a deal with Xbox causing an "MCC" that allows them to wrap this acquisition up)

 

[James Sawyer Ford]

????
No one wanted to buy his company at 82$ price tag. Who the hell is going to buy his company at $95?

I think you need to check reality my friend.

????

When the deal was signed, Activision was worth around $55-60/share

It is now worth $80+ today EVEN if the deal fails. What may have been a good deal in 2022 is a terrible deal in mid 2023

You need a reality check if you still think this represents great shareholder value today

 

[Elios83]

The CAT transcript/summary about the adjournement hearing:

Ruling (Second Adjournment Application) | Competition Appeal Tribunal

www.catribunal.org.uk

Many interesting parts but basically the judge is no fool.
He clearly stated that the parts thought that just because they agreed the CAT would be a non factor, that the answers given to explain the situation were absolutely not clear from both sides and that he needs evidence that what CMA is doing has legal ground (and he confirms he wants to be satisfied )

 

[Vox Machina]

????

When the deal was signed, Activision was worth around $55-60/share

It is now worth $80+ today EVEN if the deal fails. What may have been a good deal in 2022 is a terrible deal in mid 2023

You need a reality check if you still think this represents great shareholder value today

MSFT is definitely getting a steal here. It's like the opposite of the Bungie deal (although I think that one was and will be worth the price).

 

[FoxMcChief]

I think this is my favorite part of the thread. Everyone just ducking around, waiting for the next tweet.

 

[SlicedBread3]

I'm 99.9% certain he mentioned it at least that once, and then when he referenced the media coverage of the timing of the Sony deal, although I may have conflated that, only because they got a worse deal through being served up by the CMA and only got CoD for 10years out of the massive library of Activision games they've published on their platform for over two decades.

He definitely mentioned COD at least a couple of times.

Not sure if it was in the context you're suggesting or not. But it was mentioned by name.

 

[MarkMe2525]

Any of you guys ever have it happen where you are about to put an emoji on a post and then someone else posts and shifts everything up and you put the emoji on the wrong post?

For instance, above I was about to put the "Praise the Sun" emoji on Iced Arcade 's post and that that jackass GHG posts and shifts everything up and makes me put the emoji on adamsapple 's post.

So then I go back and take off the "Praise the Sun" from adamsapple but then realize that makes me look like a dick so I leave it on.

All of this because GHG is a jackass.

love ya bro

I literally quit paying for gold due to the aggravation caused by the real time updating threads.

 

[PaintTinJr]

They definitely talked about the Sony deal because thats what will constitute the MCC (Material Change of Consequence) that enables the derogation from the Final Report when making the Final Order.

(Also there's something inherently funny about Sony making a deal with Xbox causing an "MCC" that allows them to wrap this acquisition up)

but will it be inherently funny if the judge - who from his words - suspects Sony were influenced by the CMA backdoor dealing actions shows that the CMA have failed to follow the legislation causing the judge to leave the appeal in place, then deeming the CMA incompetent at the appeal and deciding a new phase one analysis needs restarted?

As for the other point I made about Google/Sony. Are you suggesting the judge is unaware of the coverage and contention the merger is getting? and unaware he's surrounded by maybe 30-40 extremely well payed barristers in a CMC because of a 500page report he's read months ago and thinks makes sense, and they were all previously there to contest it, and now everyone's in agreement over an idea of a solution they can't talk about or evidence, and can't prove it lines up with the legislation and he doesn't find that very odd the major dissenting voices have no representation in the room?

 

[HoofHearted]

Any of you guys ever have it happen where you are about to put an emoji on a post and then someone else posts and shifts everything up and you put the emoji on the wrong post?

For instance, above I was about to put the "Praise the Sun" emoji on Iced Arcade 's post and that that jackass GHG posts and shifts everything up and makes me put the emoji on adamsapple 's post.

So then I go back and take off the "Praise the Sun" from adamsapple but then realize that makes me look like a dick so I leave it on.

All of this because GHG is a jackass.

love ya bro

So you're saying.... GHG should stop posting?

 

[DeepEnigma]

I think this is my favorite part of the thread. Everyone just ducking around, waiting for the next tweet.

 

[FoxMcChief]

So you're saying.... GHG should stop posting?

 

[adamsapple]

Any of you guys ever have it happen where you are about to put an emoji on a post and then someone else posts and shifts everything up and you put the emoji on the wrong post?

For instance, above I was about to put the "Praise the Sun" emoji on Iced Arcade 's post and that that jackass GHG posts and shifts everything up and makes me put the emoji on adamsapple 's post.

So then I go back and take off the "Praise the Sun" from adamsapple but then realize that makes me look like a dick so I leave it on.

All of this because GHG is a jackass.

love ya bro

 

[Vox Machina]

the judge - who from his words - suspects Sony were influenced by the CMA backdoor dealing actions

Huh, where did you get that from?

deeming the CMA incompetent at the appeal and deciding a new phase one analysis needs restarted?

A new Phase 1 analysis is already going to be started for the new RMS

As for the other point I made about Google/Sony. Are you suggesting the judge is unaware of the coverage and contention the merger is getting? and unaware he's surrounded by maybe 30-40 extremely well payed barristers in a CMC because of a 500page report he's read months ago and thinks makes sense, and they were all previously there to contest it, and now everyone's in agreement over an idea of a solution they can't talk about or evidence, and can't prove it lines up with the legislation and he doesn't find that very odd the major dissenting voices have no representation in the room?

"Major dissenting voices" don't get representation in the room during a CAT appeal. Only the CMA and the merging parties. They get to provide feedback during the investigation. So no, I'm not suggesting that the Judge is unaware of that. In fact, he specifically called out that the CMA, in performing the new investigation of the new RMS needs to take time to have their normal feedback gathering phase. If Sony or Google want to provide feedback on the new RMS during that time they're more than able to, although I can't see it being taken too seriously considering the Sony deal and the Google FTC trial testimony.

 

[feynoob]

????

When the deal was signed, Activision was worth around $55-60/share

It is now worth $80+ today EVEN if the deal fails. What may have been a good deal in 2022 is a terrible deal in mid 2023

You need a reality check if you still think this represents great shareholder value today

You need the person that is going to put that money on the table.
That is what is important here.
MS is the only company that was willing to pay what they wanted.

 

[Pop]

It's the classic "would you rather fight one horse sized duck or 100 duck sized horses".

Why do you and some others seem to be for all these acquisitions...

None of us here should be for this even if its inevitable

 

[James Sawyer Ford]

You need the person that is going to put that money on the table.
That is what is important here.
MS is the only company that was willing to pay what they wanted.

You understand that Activision is a publicly traded company, right?

 

[feynoob]

You understand that Activision is a publicly traded company, right?

Yes and who is going to pay that price tag?

You think another company will come and pay 100+$ per share?

MS offer is the one that is compelling to them. And it's all in cash and not stocks.

They won't find a better offer than that.

 

[feynoob]

GHG

 

[FoxMcChief]

GHG

That's a lota chedda fo fones

 

[GHG]

GHG

 

[feynoob]

This is insane.

 

[James Sawyer Ford]

Yes and who is going to pay that price tag?

You think another company will come and pay 100+$ per share?

MS offer is the one that is compelling to them. And it's all in cash and not stocks.

They won't find a better offer than that.

Investors don't all want to sell unless there's a large premium to market

There's not.

 

[FrankWza]

For instance, above I was about to put the "Praise the Sun" emoji on Iced Arcade Iced Arcade 's post and that that jackass GHG GHG posts and shifts everything up and makes me put the emoji on adamsapple adamsapple 's post

What if they're the same person?

 

[Godot25]

I think my biggest complaint about this acquisition is that it's slowing down further acquisitions.

Pretty much.

I have no doubts that if this was completed last year Microsoft would have gotten Western studios of Square instead of Embracer

 

[DryvBy]

I think this is my favorite part of the thread. Everyone just ducking around, waiting for the next tweet.

I like all the hostile hatred and love we all have. It reminds me of family.

 

[feynoob]

Investors don't all want to sell unless there's a large premium to market

There's not.

And they won't get, because no company is going to spend that much money on Activision.

Any sale future sale will be lower than 95$ asking price.

Sometimes you have to be realistic, if you are going to sell your business. Unless there is some company that is stupid enough to pay you premium money like MS.

 

[SportsFan581]

They're going to get something, but the way they're going about it makes it clear something else happened. CMA didn't need to say anything about suspending the CAT appeal. They could have just waited for MS to submit a new deal and start over. Here, they are rushing it through in 5 weeks. There is more going on than what your explanation covers.

5 weeks, hell the CMA was ready to commit to 5:00PM the next day.

 

[James Sawyer Ford]

And they won't get, because no company is going to spend that much money on Activision.

Any sale future sale will be lower than 95$ asking price.

Sometimes you have to be realistic, if you are going to sell your business. Unless there is some company that is stupid enough to pay you premium money like MS.

Im simply stating facts

2022 deal = good at the time

2023 deal = terrible

We learned today that Activision couldn't walk away with the termination fee pending regulator decisions. If Bobby knew that the business would recover in 18 months he would have never sold

 

[Vox Machina]

5 weeks, hell the CMA was ready to commit to 5:00PM the next day.

Yeah, it's pretty clear they want this to be done and dusted so they can move on.

 

[feynoob]

Im simply stating facts

2022 deal = good at the time

2023 deal = terrible

We learned today that Activision couldn't walk away with the termination fee pending regulator decisions. If Bobby knew that the business would recover in 18 months he would have never sold

You are saying it's terrible. But who is going to pay them that much?
It's terrible only, if there are companies that are going to pay them the asking price.

So far, only MS is willing to pay them that much. That is not terrible business for them.

 

[adamsapple]

Yeah, it's pretty clear they want this to be done and dusted so they can move on.

It's been 17 months boss, I just want it to end.

Im simply stating facts

2022 deal = good at the time

2023 deal = terrible

We learned today that Activision couldn't walk away with the termination fee pending regulator decisions. If Bobby knew that the business would recover in 18 months he would have never sold

Even after this time and the quote unquote recovery, MS's offer per share is still higher than Activision's current per share value.

I don't know how you can say it's a terrible value, nor do I see any other company realistically offering this much money barring one or two extremely exceptional cases.

 

[feynoob]

It's been 17 months boss, I just want it to end.

Everyone is.
No one expected it to take this long.

 

[James Sawyer Ford]

It's been 17 months boss, I just want it to end.




Even after this time and the quote unquote recovery, MS's offer per share is still higher than Activision's current per share value.

I don't know how you can say it's a terrible value, nor do I see any other company realistically offering this much money barring one or two extremely exceptional cases.

Companies don't sell out for a 10% premium

 

[James Sawyer Ford]

You are saying it's terrible. But who is going to pay them that much?
It's terrible only, if there are companies that are going to pay them the asking price.

So far, only MS is willing to pay them that much. That is not terrible business for them.

They don't need any competing company to pay them anything

If it's trading only 5-10% below par value, investors would rather retain control of the company

 

[adamsapple]

Companies don't sell out for a 10% premium

Ok but Activision is, they did not exercise the right to walk away from the merger and instead opted to extend it.

So that's that, I guess.

 

[Slicker than your average]

I think my biggest complaint about this acquisition is that it's slowing down further acquisitions.

Ah yes more. When will you be satisfied. When Xbox owns everything bar random indies and sonys own studios?

 

[feynoob]

Companies don't sell out for a 10% premium

Companies sell when there is a price tag.

Current share might not be like this in the future. It might go down as 50s. Nothing is certain.
Look at MS share. It jumped higher due to the recent news. Same as how Activision stock went down due to that scandal.

It's why it's better to get the better offer, instead of looking for ridiculous offers which isnt guaranteed.

 

[havoc00]

Yeah, it's pretty clear they want this to be done and dusted so they can move on.

We all do

 

[Vox Machina]

Ah yes more. When will you be satisfied. When Xbox owns everything bar random indies and sonys own studios?

MSFT:

 

[feynoob]

They don't need any competing company to pay them anything

If it's trading only 5-10% below par value, investors would rather retain control of the company

The question is, is Activision guaranteed to stay at this price tag?

Current stock trading is 92.62 right now. It might go as low as 82 if it fails.
Is it guaranteed that they will stay in 80s and not drop down? Because that premium tag will evaporate, if they can't maintain that price range.