4 big deal reports: FTC falls flat in attempt to block Microsoft-Activision
Investing.com — Here is your Pro Recap of 4 head-turning deal dispatches you may have missed last week: uncertainties loom around the Microsoft-Activision deal; Broadcom-VMware receives EC approval; Exxon Mobil to acquire Denbury; and Stratasys receives a sweetened offer from 3D Systems.
InvestingPro subscribers got this news first. Never miss another market-moving headline.
Microsoft's (NASDAQ:MSFT) proposed buyout of Activision Blizzard (NASDAQ:ATVI), the largest deal in gaming history, continues to face regulatory obstacles in both the U.S. and the U.K.
But, at least on the U.S. side, Microsoft emerged victorious late Friday as the U.S. Federal Trade Commission (FTC) lost its attempt to temporarily block the merger via a court injunction.
On the other hand, the U.K.'s Competition and Markets Authority (CMA) has extended its review period after receiving a modified proposal from Microsoft, which claimed material changes in circumstance, as Reuters reported Friday.
Activision shares closed the week with more than a 9% gain, while Microsoft was up around 2%.
Broadcom (NASDAQ:AVGO) obtained conditional approval from the European Commission for its $61 billion acquisition of VMware (NYSE:VMW).
Broadcom has received legal clearance for the merger in Australia, Brazil, Canada, South Africa, and Taiwan, along with foreign investment control clearance in all necessary jurisdictions.
Broadcom remains confident that the transaction will be closed within its fiscal year 2023.
VMware shares gained more than 10% this week, while Broadcom shares rose nearly 5%.
Exxon Mobil (NYSE:XOM) said on Thursday it has entered into a definitive agreement to acquire Denbury Resources (NYSE:DEN) for $4.9B in an all-stock transaction, as reported
Read more on investing.com
