On Tuesday, Microsoft (NASDAQ:MSFT) moved to defend its $68.7 billion acquisition of Activision Blizzard (ATVI) in front of European Union (EU) regulators. Ahead of a closed-door hearing in Brussels with EU regulators, Microsoft President Brad Smith commented, “I think we’ll make clear that our acquisition of Activision Blizzard will bring more games to more people on more devices and platforms than ever before.”
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Smith added that the company was more than willing to address regulators’ concerns through its contracts or by “regulatory undertakings.” Smith was referring to MSFT’s 10-year deal with Nintendo (NTDOY) earlier today to bring the popular game, Call of Duty to Nintendo devices.
This EU hearing comes two weeks after UK’s regulator raised concerns about this deal.
Analysts remain bullish about MSFT stock with a Strong Buy consensus rating based on 25 Buys, three Holds, and one Sell.
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue