MSFT - Is Activision Blizzard Stock a Buy Even Without the Microsoft Deal?
2023-03-29 08:45:00 ET
For the past year, the video game industry has been intensely focused on one topic: Microsoft 's (NASDAQ: MSFT) proposed buyout of Activision Blizzard (NASDAQ: ATVI) for $75 billion. The deal -- which could end up being one of the largest in corporate finance history -- is under review by regulators in the United States, United Kingdom, and European Union for potential anti-competitive or anti-consumer issues.
With a current spread to the closing deal price of 12.4%, merger arbitrage investors are making bets that the deal will get approved sometime soon, with Microsoft expecting the decision to be finalized at some point this summer.
A lot of analysts are spending their time trying to figure out whether government regulators will approve this deal. But is Activision Blizzard stock a buy regardless of a confirmed deal? I think it might be.
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Is Activision Blizzard Stock a Buy Even Without the Microsoft Deal?