William Fry is advising King Digital Entertainment plc (NYSE: KING) a leading interactive entertainment company for the mobile world and the creator of Candy Crush Saga®, in respect of the acquisition by Activision Blizzard, Inc. (NASDAQ: ATVI), one of the world’s largest interactive gaming companies, of all the outstanding shares of King for $18.00 in cash per share, for a total equity value of $5.9 billion.
The deal is being implemented by means of a scheme of arrangement under Irish law. It is expected to be completed in Spring 2016, subject to customary closing conditions including anti-trust clearances, approval by King’s shareholders and sanction by the Irish High Court. Activision Blizzard develops and publishes Call of Duty®, Destiny, Skylanders®, Guitar Hero®, World of Warcraft®, StarCraft®, Diablo®, and Hearthstone®, Heroes of Warcraft™. The acquisition will allow the combined company to create one of the world’s largest entertainment networks encompassing some of the world’s most iconic interactive entertainment franchises. Further information in relation to the acquisition may be found on the King website.
The William Fry team advising on the deal includes Corporate Partners David Carthy, David Fitzgibbon and Susanne McMenamin, Corporate Associates Paul White and Rachel Prendiville; Employment & Benefits Partner Maura Roe; and Competition & Regulation Regulation Partner Cormac Little.
William Fry previously advised King on it redomiciliation to Ireland and on Irish law issues in connection with its $7.2bn admission to trading on the New York Stock Exchange in March 2014, which was the biggest ever tech IPO by an Irish company.
William Fry’s mandate on the King transaction maintains its position as a leader in advising on public company transactions including: advising IAG on its acquisition of Aer Lingus; The Department of Finance in assessing options regarding potential disposal of the State’s holdings in Allied Irish Banks plc (AIB) and Forest Laboratories in relation to its $28 billion merger with Actavis plc.
