The Federal Trade Commission voted to sue to block Microsoft’s (MSFT) acquisition of Activision Blizzard (ATVI), saying the merger would harm competition in the gaming market, Leah Nylen and Dina Bass of Bloomberg report, citing two people familiar with the matter. The complaint will be filed in the FTC’s in-house court Thursday following the closed-door meeting vote, sources told Bloomberg. Shares of Activision are down 2% to $74.21 following the report while Microsoft is up 1% to $247.43.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on ATVI:
- FTC Files Suit to Thwart Microsoft’s (NASDAQ:MSFT) Activision Deal
- Activision sues California’s CRD over public records, Axios reports
- Activision Slips after “Call of Duty” Deal Troubles Emerge
- What You Missed This Week in Video Games
- Microsoft enters 10-year deal to bring ‘Call of Duty’ to Nintendo, Steam