Bloomberg Law
March 24, 2023, 8:11 PM

Microsoft-Activision Spread Hits Lowest Since Merger Announced

Yiqin Shen
Yiqin Shen
Bloomberg News

The gap between Activision Blizzard’s stock price and Microsoft Corp.’s takeover offer is at its narrowest level since the $69 billion merger was announced in January 2022, as an update from UK regulators lifts expectations that the deal could go through.

Activision rallied 5.9% on Friday to $84.39, the highest since August 12, 2021. The surge came after the UK Competition and Markets Authority narrowed the scope of their merger probe, putting the stock around 11% below Microsoft’s $95-per-share offer. The gap was 23% when British regulators voiced opposition to the tie up back in February.

The market is currently ...

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