MSFT - Why Activision Blizzard Stock Got Hit Today
Over the Thanksgiving break, while markets were closed for trading, Politico reported that the Federal Trade Commission (FTC) "is likely to file an antitrust lawsuit to block Microsoft's $69 billion takeover of video game giant Activision Blizzard." On Friday morning, as trading resumed after the holiday, Activision Blizzard (NASDAQ: ATVI) stock tumbled in response.
As of 10:30 a.m. ET, Activision stock is down 4.1%.
Mind you, "is likely to file" is not the same thing as "will file" -- or "will succeed in blocking the merger," for that matter. Politico goes on to explain that the FTC commissioners have not yet made a decision to sue Microsoft (NASDAQ: MSFT) to block its acquisition of Activision.
For further details see:
Why Activision Blizzard Stock Got Hit Today