Published -June 19th, 2023 @ 3:25 PM (GMT+2)
Key Trading News
Brush up on last week's key trading news: Microsoft's Activision Blizzard deal hit the pause button, Broadcom's VMware purchase is close to EU approval, Amazon's iRobot takeover is accepted by the UK's CMA. Regarding Amazon's iRobot news, click here
Microsoft's Acquisition of Activision Blizzard Delayed
The US Federal Trade Commission (FTC) stepped in to delay Microsoft's (NASDAQ:MSFT) acquisition of Activision Blizzard (NASDAQ:ATVI), as reported by Reuters. As the deal appeared close to conclusion, possibly by week's end, the FTC sought federal court intervention to postpone any final agreements.
Temporary Cessation of Microsoft-Activision Blizzard Acquisition
A US judge responded by granting a temporary cessation of the acquisition, with a hearing set for this week. The FTC expressed concerns that the deal could potentially empower Microsoft to limit Activision's content, affecting competition adversely.
Broadcom's VMware Purchase Nears EU Approval, Shares Surge
Meanwhile, shares of VMware (NYSE:VMW) and Broadcom (NASDAQ:AVGO) experienced a respective 4% and 6% surge as Broadcom stands poised to receive conditional EU approval for its $61 billion purchase of VMware, as per Reuters. The approval hinges on Broadcom's assurance to maintain interoperability with competitors.
Amazon's iRobot Takeover Approved by UK CMA, Shares Soar
Additionally, iRobot (NASDAQ:IRBT) shares soared over 21% following the UK Competition and Markets Authority's (CMA) sanction of Amazon's (NASDAQ:AMZN) $1.7 billion acquisition. Despite this approval, regulators in other jurisdictions continue to scrutinize the acquisition.
NASDAQ Plans to Acquire Adenza
In other news, NASDAQ (NASDAQ:NDAQ) has confirmed its plans to buy Adenza from private equity titan Thoma Bravo.
Patterson-UTI Energy and NexTier Merge, Shares Increase
Lastly, shares of Patterson-UTI Energy (NASDAQ:PTEN) rose over 12% upon revealing a merger agreement with NexTier Oilfield Solutions (NYSE:NEX).
Microsoft’s $69 Billion Acquisition of Activision, click here
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