Activision Nears Microsoft Deal as UK Approval Looms
Activision shares rise nearly 2% in US trading on Friday
UK signals it will accept concessions in deal’s final hurdle
As the $69 billion deal between Microsoft Corp. and Activision Blizzard Inc. looks ever more likely to win approval in the UK, the gap between the video game maker’s stock price and takeover offer is narrowing.
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@Activision shares rose nearly 2% in US trading on Friday as the UK signals it will accept concessions in the deal’s final hurdle w/@Microsoft via Bloomberg#activision #microsoft #gaming #shares pic.twitter.com/b8KtfiTvc8
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Activision’s shares rose as much as 1.9% to $94.11 on Friday, 89 cents away from Microsoft’s $95-a-share offer, compared with a gap of $2.65 as of Thursday’s close. Investors are betting the deal is nearing the finish line after UK competition authorities signaled they will accept the latest concessions.
- Microsoft slipped slightly, trading 0.1% lower Friday.
The prospect of a green light from the UK will be welcome news for investors and speculators who have endured more than a year of uncertainty as the deal ran up against antitrust concerns
