Activision stock price jumps after judge clears Microsoft acquisition

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Business News News

Activision Blizzard jumps 11% after judge rules Microsoft can buy the video game publisher in a win over FTC

Activision Blizzard stock jumped on Tuesday after a federal judge ruled that Microsoft could proceed with its $69 billion deal to buy the video game publisher. The ruling from US District Judge Jaqueline Scott Corley said that the FTC had not provided evidence for its claim the merger would hurt competition in the gaming industry. She said the deal would in fact enhance access to popular game franchises like"Call of Duty" and other titles published by Activision.

Microsoft has said it doesn't intent to do this, but critics point to the firm's $11 billion takeover of Zenimax in 2021. The decision that the deal can proceed is a blow to the FTC and the Biden administration, which has sought to curtail mega-mergers that it says harm competition and are bad for consumers. The deal can now proceed before a hearing that the FTC had scheduled for August, in which it was set to challenge the merger.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Activision Blizzard Stock Surges 11% After Judge Allows Microsoft MergerActivision Blizzard’s stock price jumped more than 11% on Tuesday, after a federal judge paved the way for Microsoft to acquire the video game giant despite a federal lawsuit alleging the merger would stifle competition.
Source: Forbes - 🏆 394. / 53 Read more »