Activision rises as Microsoft inks deal to keep CoD on PlayStation

Tonner-One World Holdings

17/07/2023 12:51

(Updates)
    ** Shares of Call of Duty (CoD) publisher Activision
Blizzard  ATVI.O  rise 4.7% to $94.30 premarket
    ** Stock inches closer to Microsoft's  MSFT.O  offer price
of $95 per share
    ** MSFT signed an agreement to keep CoD on Sony Group's
 6758.T  PlayStation following the acquisition of Activision
Blizzard, Microsoft Gaming CEO Phil Spencer said on Sunday
    ** An U.S. appeals court on Friday rejected the Federal
Trade Commission's (FTC) request to pause the deal, removing one
of the few remaining hurdles stopping the Xbox maker from buying
ATVI
    ** "The loss of the last-ditch appeal means the FTC has
failed to block the deal," says brokerage Wedbush Securities
    ** Adds "With a few loose ends remaining, Microsoft and
Activision Blizzard may decide to renegotiate deal terms to
ensure as smooth a deal completion as possible"
    ** Up to last close, ATVI had risen ~18% and MSFT gained
~44% this year

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Activision's shares since Microsoft said it would buy co for $69
bln    https://tmsnrt.rs/3rmbMen
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 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))