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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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