Microsoft-Activision Acquisition Clears Another Hurdle As FTC's Appeal To Block The Deal Falls Through
Portfolio Pulse from Shanthi Rexaline
The Ninth Circuit U.S. Court of Appeal has denied the Federal Trade Commission's appeal to block the acquisition of Activision Blizzard, Inc. (NASDAQ:ATVI) by Microsoft Corp. (NASDAQ:MSFT). The deal is now almost certain to go through, with a hearing scheduled for July 17 by the U.K. Competitions and Markets Authority. Following the court's decision, Activision shares traded 3.36% higher, while Microsoft gained 0.51%.
July 15, 2023 | 2:21 pm
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POSITIVE IMPACT
Activision Blizzard's shares traded 3.36% higher following the court's decision, indicating positive investor sentiment.
The court's decision to deny the FTC's appeal to block the acquisition by Microsoft is seen as a positive development for Activision Blizzard, leading to a rise in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Microsoft's shares gained 0.51% following the court's decision, reflecting positive investor sentiment towards the acquisition.
The court's decision to deny the FTC's appeal to block the acquisition of Activision Blizzard is seen as a positive development for Microsoft, leading to a slight increase in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100