Activision Blizzard shares rise on news of merger with Microsoft
2022.12.05 07:30
Activision Blizzard shares rise on news of merger with Microsoft
Budrigannews.com – Activision Blizzard shares (NASDAQ:)increased by 3% in pre-open trading on Monday following a Bloomberg News report that Microsoft (NASDAQ:) According to a person with knowledge of the situation, is “ready to fight” to complete its acquisition of the video game developer even if the U.S. FTC files a lawsuit to prevent the deal.
According to the report, the FTC is currently wrapping up its investigation and is anticipated to issue a recommendation shortly. Microsoft, on the other hand, has not yet discussed any concessions or remedies with the FTC.
According to a source familiar with Microsoft’s thinking, the report stated that Microsoft is prepared to challenge the FTC’s decision in court if it sues to block the deal.
Antitrust experts at Bloomberg Intelligence said they wouldn’t be surprised if the FTC filed a lawsuit to stop the deal, but they also said it would be hard for enforcers to win in court. However, a dispute in court would probably cause the deal to take longer to close, which Microsoft currently anticipates will happen by June 30, 2023.
