MXIM - Nuance/Microsoft deal spread in focus after FTC approves Alexion/AstraZeneca

Microsoft's Corp's (MSFT) planned almost $20B Nuance (NUAN) acquisition has been a focus of traders as the deal spread appears to be slightly higher than expected, trading at 4.8% discount to the Nuance deal price of $56/share.The deal is likely to become one of the biggest for risk arbitrage traders after the Federal Trade Commission approved AstraZeneca's $39B purchase of Alexion Corp. late last week in what may a bit of surprise since the agency recently indicated it may take a tougher stance on pharmaceutical deals.Last month, the FTC announced today that it's staring a working group to update its approach to analyzing the effects of pharmaceutical mergers.Initially the Nuance purchase appears one that would be approved by U.S. antitrust regulators, though with a new Biden administration in place and big tech being heavily  scrutinized by antitrust enforces some may have more reason for concern.Given strong competitors such as Apple (AAPL)

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Nuance/Microsoft deal spread in focus after FTC approves Alexion/AstraZeneca