UK blocks Microsoft's $69 billion Activision deal over cloud gaming concerns
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Raymond James Said to Defend Activision Blizzard (ATVI)
April 26, 2023 10:27 AM EDTRaymond James Said to Defend Activision Blizzard (NASDAQ: ATVI)
"We would be buyers of ATVI on the pullback"... MoreEvercore ISI Stays Outperform on Microsoft (MSFT): 'this announcement should not distract from the broader narrative around cloud/AI'
April 26, 2023 9:26 AM EDTEvercore ISI analyst Kirk Materne reiterated an Outperform rating and $337.00 price target on Microsoft (NASDAQ: MSFT).
The analyst comments "In a somewhat surprising move after a lot of back/forth between the two parties, the CMA denied Microsofts acquisition of Activision based on concerns about the downstream implications on the cloud gaming market. There are a lot of potential long-term implications for tech M&A that are worth discussing at another time, but the bottom line as it relates to MSFT/ATVI is that the process from here... More
Stifel on Activision Blizzard (ATVI): 'we value the business in the mid/ high $80s/share range'
April 26, 2023 8:06 AM EDTStifel analyst Drew Crum reiterated a Buy rating on Activision Blizzard (NASDAQ: ATVI).
The analyst comments "What happened? The CMA's ruling centered on concerns about competition within the nascent cloud gaming market. From the time the deal was announced in January '22, the antitrust focus was exclusivity of games (i.e., Call of Duty) on Xbox. And recent commentary from the U.K. suggested such... More
