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Quote Originally Posted by The Verge
The initial conversation about an acquisition happened between Spencer and Kotick on November 19th, just three days after the WSJ’s report about the Activision Blizzard CEO and a single day after Spencer said told Xbox staff he was “deeply troubled.” It might have even come up as part of the same conversation.

“In the course of a conversation on a different topic between Mr. Spencer and Mr. Kotick, Mr. Spencer raised that Microsoft was interested in discussing strategic opportunities between Activision Blizzard and Microsoft and asked whether it would be possible to have a call with Mr. Nadella the following day,” the document reads. The next day (a Saturday), Microsoft CEO Satya Nadella was apparently more explicit, indicating that “Microsoft was interested in exploring a strategic combination with Activision Blizzard.”

One thing I found interesting was that Activision Blizzard was in touch with four other companies and one individual about some sort of deal in addition to Microsoft. Disappointingly, they are only named as companies A, C, D, and E, and the individual is named as “Individual B,” so we don’t know who else could have ended up owning Call of Duty. None of those deals went through for various reasons — Company E, for example, said it couldn’t do a full acquisition of Activision Blizzard — and Microsoft was rapidly and aggressively pursuing its deal, getting the terms together before some other companies had even entered the picture.
Read exactly how Microsoft’s $68.7 billion deal for Activision Blizzard came together