its action Activision Blizzard It rose 10% on Tuesday after a judge denied a motion to block a preliminary injunction from the Federal Trade Commission (FTC). Microsoft Acquisition of video game makers.
its action Activision Blizzard It hit a 52-week high of $92.91 per share, and the move reflects the biggest gain for the video game publisher since the deal was first announced on January 18, 2022. share of Activision Blizzard Reached near their highest since July 2021.
Microsoft agree to buy Activision Blizzard $68.7 billion, or $95 a share, but the acquisition has faced opposition in the U.S. and abroad over concerns it could stifle competition.
The United States District Court for the Northern District of California issued the decision in favor of the companies on Tuesday.
“For the reasons stated, the Tribunal comes to the conclusion that FTC This vertical consolidation in this particular industry would substantially lessen competition,” Judge Jacqueline Scott Corley wrote in her decision.
But the deal is not yet fully secured. The FTC You can now decide the United States Court of Appeals for the Ninth Circuit, and Microsoft y Activision Blizzard They must find ways to resolve opposition from the UK Markets and Competition Authority.
“We are hopeful that today’s ruling points the way towards full regulatory approval in other parts of the world, and we stand ready to work with UK regulators to address any remaining concerns so that our merger can be closed expeditiously,” the statement read. CEO’s Activision BlizzardBobby Kotick, in a memo sent to staff on Tuesday.
Through: CNBC
Editor’s note: I told them it was going to happen. Now, there will definitely be a few appeals if not tired of making plays but Activision is going to end up in Microsoft’s hands and then we’ll see if the folks at Redmond do the developer a little good. Gone, if Playstation keeps crying and if people actually change their Playstation to Xbox… which won’t happen because they are already different types of gamers.
