MSFT - Why Activision Blizzard Stock Had a Frosty Monday
On a report that its planned tie-up with a giant peer might be heading into rough regulatory waters, Activision Blizzard (NASDAQ: ATVI) stock took a body blow from investors on Tuesday. They traded the video game giant's shares down by nearly 3%, on a day when the S&P 500 index slid by only 0.2%.
Early that morning, Reuters reported that that there is a strong possibility for the European Union (EU) to issue a formal antitrust warning to would-be Activision Blizzard acquirer Microsoft (NASDAQ: MSFT) .
Citing unnamed "people familiar with the matter," the news agency said that the EU's executive body and frequent regulator, the European Commission (EC), is preparing a statement of objections to the proposed deal. This would be issued within a matter of weeks.
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Why Activision Blizzard Stock Had a Frosty Monday