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Expert Analysis

Lessons From Del. Chancery Court's New Activision Decision

By Kyle Harris, Mark McDonald and Charlie Allen ( October 30, 2025, 3:22 PM EDT) -- In February 2024, the Delaware Court of Chancery surprised many M&A practitioners by holding in Sjunde AP-Fonden v. Activision Blizzard Inc. that the board of directors of Activision Blizzard, in approving the January 2022 sale of the company to Microsoft Corp., did not comply with technical requirements of the Delaware General Corporation Law concerning the manner in which it approved the merger agreement and disclosed the merger to stockholders....

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