STOCK MARKET UPDATES: UK blocks Microsoft Activision deal, First Republic shares sink, Nasdaq leads

Microsoft's $69 billion deal to purchase Activision was blocked by the UK's Competition and Markets Authority citing anticompetitive concerns. Still, the software-giant is vowing to complete the deal.

“We remain fully committed to this acquisition and will appeal,” President Brad Smith said in a statement reported by the. He said the watchdog's decision “rejects a pragmatic path to address competition concerns" and discourages tech innovation and investment in the United Kingdom.“We’re especially disappointed that after lengthy deliberations, this decision appears to reflect a flawed understanding of this market and the way the relevant cloud technology actually works,” Smith said.

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Stocks making the biggest moves premarket: Activision Blizzard, Chipotle, First Republic Bank & moreFirst Republic Bank shares dropped, fueling its potential to again weigh on the broader banking sector. Other regional bank stocks rose before the bell.
منبع: CNBC - 🏆 12. / 72 ادامه مطلب »

UK To Block Microsoft's Activision Blizzard AcquisitionMicrosoft runs into its first major block against the ActivisionBlizzard merger as the UK's CMA will be blocked by week's end. Activision BlizzardEntertainment
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Microsoft’s Activision Blizzard acquisition blocked by UK regulatorsMicrosoft says it will appeal the decision
منبع: verge - 🏆 94. / 67 ادامه مطلب »