Activision Blizzard is Set to Leave Nasdaq Stock Exchange, Suggesting Microsoft Deal Could Close Soon
Microsoft’s proposed $69 acquisition of Activision Blizzard has been held up for some time, but recent developments have brought it closer than ever to finally being completed. Recently, the company’s legal proceedings against the FTC ended with the latter being denied an injunction against the acquisition, and another major development has followed on its heels to suggest that the deal could indeed be closing soon.
Activision Blizzard is being removed from the Nasdaq index, it has been announced. The company will leave the stock exhange before market opens on July 17, and will be replaced by The Trade Desk, suggesting that preparations are being made for an imminent change in ownership.
Microsoft’s proposed acquisition of Activision Blizzard has a deadline in place for July 18, after which the deal will have to be renegotiated if it is to proceed, and Microsoft will have to pay Activision a penalty of $3 billion.
Whether or not the deal does manage to go through before that tight deadline remains to be seen. The FTC recently also filed an appeal against the verdict for its trial against Microsoft. Meanwhile, Microsoft and CMA have paused litigation and begun negotiations, though the CMA insists these talks are still “at an early stage.”
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