What’s Going On With Activision Blizzard Stock Wednesday? – Activision Blizzard (NASDAQ:ATVI)
Activision Blizzard, Inc ATVI stock is trading lower Wednesday amid reports of a possible new investigation on the Microsoft Corp MSFT takeover deal to reverse a U.K. veto.
The CMA said Tuesday it had applied to put the appeal trial against its decision to block the deal on hold after a U.S. court offered a clean chit to the takeover.
At a June hearing, the FTC argued that the merger would harm competition since the combined company could withhold critical titles from rival consoles and subscription services.
Merging parties don’t have the opportunity to put forward new remedies once a final report has been issued, they can choose to restructure a deal, which can lead to a new merger investigation, Bloomberg cites a spokesperson from the Competition and Markets Authority.
Microsoft and Activision are considering modifying the transaction, the spokesperson said.
Microsoft had already forged deals with Nvidia Corp NVDA, Nintendo Co, Ltd NTDOF NTDOY, Boosteroid, and Nware to win regulatory support for the deal.
Price Action: ATVI shares traded lower by 1.55% at $89.65 premarket on the last check Wednesday.
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