A tweet from Jason Schreier shares a portion of an email to staff from Bobby Kotick where the Activision Blizzard CEO outlines the timeframe for the acquisition reported above. He says the company will continue to operate autonomously until the detail is consummated, which may not be until the (northern) summer of next year:

Transactions like these can take a long time to complete. Until we receive all the necessary regulatory approvals and other customary closing conditions are satisfied, which we expect to be sometime in Microsoft fiscal 2023 year ending June 30, 2023, we will continue to operate completely autonomously. I will continue as our CEO with the same passion and enthusiasm I had when I began this amazing journey in 1991.

Of course, this announcement will give rise to so many questions. We will host numerous forums and events to make certain we can address your concerns. I'm incredibly proud of this company, you, and the work we have done together. Now it's on to our next chapter and the endless possibilities this transaction represents for us. I couldn't be more appreciative of your efforts, focus, and the dedication to connecting the world through joy and fun.