Sony Shares Rebound After Plunging in Response to Microsoft’s Acquisition of Activision Blizzard

, which may take more than a year to close, would make it the world’s third largest games company by revenue, after China’s Tencent and Japan’s Sony.

A year ago, Game Pass had 18 million subscribers worldwide. When the deal was announced on Tuesday, Microsoft said that number had increased to 25 million. While the deal news initially dented Sony’s stock, it lifted the shares of other Japanese games companies, moves that financial analysts said may suggest the firms are seen as potential acquisition targets. Shares of Square Enix, Capcom and Konami all climbed by more than 5%. Ubisoft Entertainment shares also rose by 11% on Wednesday.

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