Sony stock value plummets $20bn following word of Microsoft Activision Blizzard deal
Shares in Sony have dropped by 13 percent, as the Tokyo stock market reacted to yesterday's industry-shaking announcement that Microsoft will buy Activision Blizzard.
The fall in stock price is the largest since October 2008 — the same month Sony was forced to recall 100,000 laptop batteries due to fire hazard.
The Financial Times and Bloomberg spotted Sony's sudden stock plunge overnight, and noted it had wiped around $20bn from Sony's market value.
Eurogamer Newscast Special: Xbox buying Activision Blizzard.
There was positive news for other game makers, however. Shares for Japanese publishers such as Square Enix, Capcom and Konami all rose around five percent, while Ubisoft's price surged 11 percent — all perhaps seen as Microsoft's next target.
Microsoft's astonishing $68bn price-tag for Activision Blizzard was calculated based on a price of $95 per share — roughly 45 percent above Activision's stock price before the announcement.
Come 2023, when the deal is likely finalised, this will give Activision Blizzard's shareholders a significant payday. This is also expected to be when controversial boss Bobby Kotick finally exits.
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