Shares of Activision Blizzard (NASDAQ: ATVI) were up in morning trading on Friday after the U.K’s antitrust regulator, Competition and Markets Authority (CMA) softened its stand on Microsoft’s (MSFT) proposed acquisition of the company for $69 billion.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The antitrust regulator stated that it has “provisionally concluded that the anticipated acquisition by Microsoft Corporation of Activision Blizzard, Inc. will not result in a substantial lessening of competition in relation to console gaming in the UK.” It will issue a final report on the matter by April 26.
Year-to-date, ATVI stock has gone up by more than 9.1%.