Microsoft gaming chief feels good about progress on Activision deal
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Microsoft (NASDAQ:MSFT) gaming chief Phil Spencer said in an interview with Bloomberg that he feels good about the progress the tech titan has made with regulators over its proposed acquisition of Activision (NASDAQ:ATVI).
âI feel good about the progress that we've been making, but I go into the process supportive of people who maybe aren't as close to the gaming industry asking good, hard questions about, what is our intent? What does this mean?" Spencer said. "If you play it out over five years, is this constricting a market? Is it growing a market?â
Spencer added that he has not been a part of any deals as large as this one, but added that the discussions "we've been having seem positive.â
Microsoft (MSFT) announced its $69B deal to buy Activision Blizzard (ATVI) for $95 per share in cash in January.
Last month, it was reported that Europe's antitrust regulator was looking into whether Microsoft's (MSFT) planned $69B purchase of Activision (ATVI) may shut out rivals.
The U.K.'s antitrust regulatory is also looking into the deal, having opened an inquiry into the deal to see if it will impact rivals.
MoffettNathanson recently upgraded Activision Blizzard (ATVI), noting it trading at about a 20% discount to the Microsoft offer.