Activision Blizzard's stock price soared to a two-year high amid Microsoft's victory over the FTC in court
Yesterday, a California court refused to impose an injunction on the Microsoft and Activision Blizzard deal, as required by the US Federal Trade Commission (FTC). This decision had a positive impact on the value of the shares of the gaming company.
Activision Blizzard securities rose by 10% — from $82.7 to $90.99 apiece. The last time the shares of the Call of Duty developer were worth around $91 apiece two years ago — in July 2021.
However, this is less than Microsoft will pay for each Activision Blizzard share if the deal is completed (the Redmonds offered $95 for each paper), and less than the shares were worth at their peak in February 2021 (then $103.81 was offered for one share).
As for the value of Microsoft’s securities, the victory over the FTC did not have a significant impact on them. The market reacted with an exceptionally insignificant price increase — by 0.19% to $332.4 per piece.
As the Financial Times notes, the rise in Activision Blizzard’s share price indicates that most investors are now confident that the deal with Microsoft will be completed.
