California’s court refused to grant an injunction against the deal between Microsoft and Activision Blizzard, as the US Federal Trade Commission (FTC) demanded, according to Game World Observer. The decision had a positive impact on the gaming company’s stock price.
Activision Blizzard shares rose 10% – from $82.7 to $90.99 per unit. The last time the Call of Duty developer’s shares were worth around $91 a piece was two years ago – in July 2021.
However, that’s less than Microsoft would pay for each Activision Blizzard share if the deal is finalized (the Redmonds offered $95 per share), and less than the stock was worth at its peak in February 2021 ($103.81 per share was offered then).
As for the value of Microsoft securities, they were not significantly affected by the victory over the FTC. The market reacted with only a slight increase in price – by 0.19% to $332.4 per unit.
As noted by the Financial Times, the rise in the share price of Activision Blizzard indicates that most investors are now confident that the deal with Microsoft will be finalized.