Activision BlizzardTo work with a financial company on topping, I contacted them. Take-TwoAcquisition of $12.7 Billion by. ZyngaBefore you agree to sell MicrosoftAccording to someone familiar with the subject, this happened last weekend.

Activision reached out recently to a financial advisor to present to its board a proposal about taking on Take-Two. The person, who requested anonymity because it was a private presentation, said that the company had asked for a presentation. The person said that the presentation took place last week.

Activision considered Zynga a possible plan B for Microsoft, but it’s not clear if they were. According to someone familiar with the matter, Activision was called by Goldman Sachs as part of their go-shop process. A person who spoke on condition of anonymity said that bankers couldn’t have known Activision was about to sell to Microsoft due to the bank’s Chinese walls.

Take-Two stipulates that Zynga must have a “go-shop” period of 45 days. It allows other businesses to offer more than the $12.7billion offered. Zynga must offer a lower bid and pay Take-Two $400 millions. Take-Two already offered 64% more than Zynga’s closing prices the day prior to the announcement, making it expensive for companies.

Activision Blizzard spokespeople were unavailable for immediate comment.

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