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Activision Blizzard to buy King Digital for $5.9 billion

Video game maker Activision Blizzard said it will acquire Candy Crush Saga creator King Digital Entertainment for $5.9 billion.

Activision will pay $18 in cash per King share, a premium of 16 percent to King's closing price on Monday.

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King will continue to be led as an independent operating unit by Chief Executive Riccardo Zacconi, Chief Creative Officer Sebastian Knutsson, and Chief Operating Officer Stephane Kurgan, the companies said in a statement late on Monday.