Morgan Stanley Downgrades King Digital Entertainment (KING) to Equalweight

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Go back to Morgan Stanley Downgrades King Digital Entertainment (KING) to Equalweight

Activision Blizzard (ATVI) to Acquire King Digital (KING) for $5.9 Billion

November 2, 2015 10:35 PM EST

Activision Blizzard, Inc. (Nasdaq: ATVI) and King Digital Entertainment plc (NYSE: KING) today announced the signing of a definitive agreement under which ABS Partners C.V. (ABS Partners), a wholly owned subsidiary of Activision Blizzard, 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 $18.00 per share purchase price implies a 20% premium over Kings 30 October 2015 closing price, a 26% premium over Kings 30 October 2015 enterprise value (which excludes net cash), a 23% premium over Kings one month... More