Microsoft’s Acquisition of Activision - Deal Hit the Pause Button

Published -June 19th, 2023 @ 3:25 PM (GMT+2)

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Key Trading News

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Brush up on last week's key trading news: Microsoft's Activision Blizzard deal hit the pause button, Broadcom's VMware purchase is close to EU approval, Amazon's iRobot takeover is accepted by the UK's CMA.  Regarding Amazon's iRobot news, click here

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Microsoft's Acquisition of Activision Blizzard Delayed

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The US Federal Trade Commission (FTC) stepped in to delay Microsoft's (NASDAQ:MSFT) acquisition of Activision Blizzard (NASDAQ:ATVI), as reported by Reuters. As the deal appeared close to conclusion, possibly by week's end, the FTC sought federal court intervention to postpone any final agreements.

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Temporary Cessation of Microsoft-Activision Blizzard Acquisition

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A US judge responded by granting a temporary cessation of the acquisition, with a hearing set for this week. The FTC expressed concerns that the deal could potentially empower Microsoft to limit Activision's content, affecting competition adversely.
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Broadcom's VMware Purchase Nears EU Approval, Shares Surge

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Meanwhile, shares of VMware (NYSE:VMW) and Broadcom (NASDAQ:AVGO) experienced a respective 4% and 6% surge as Broadcom stands poised to receive conditional EU approval for its $61 billion purchase of VMware, as per Reuters. The approval hinges on Broadcom's assurance to maintain interoperability with competitors.

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Amazon's iRobot Takeover Approved by UK CMA, Shares Soar

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Additionally, iRobot (NASDAQ:IRBT) shares soared over 21% following the UK Competition and Markets Authority's (CMA) sanction of Amazon's (NASDAQ:AMZN) $1.7 billion acquisition. Despite this approval, regulators in other jurisdictions continue to scrutinize the acquisition.

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NASDAQ Plans to Acquire Adenza

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In other news, NASDAQ (NASDAQ:NDAQ) has confirmed its plans to buy Adenza from private equity titan Thoma Bravo.

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Patterson-UTI Energy and NexTier Merge, Shares Increase

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Lastly, shares of Patterson-UTI Energy (NASDAQ:PTEN) rose over 12% upon revealing a merger agreement with NexTier Oilfield Solutions (NYSE:NEX).

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Microsoft’s $69 Billion Acquisition of Activision, click here

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