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 Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration
Hedge funds, which make profits by speculating on precarious takeovers, got a treat this week when Microsoft Corp (MSFT.O) agreed to buy "call of duty" maker Activision Blizzard (ATVI.O) for US$68.7 billion dollars in cash. The transaction requires antitrust laws. Approved in the United States and other major jurisdictions, including the European Union and China. It comes at a time when President Joe Biden's administration is taking a closer look at large mergers, blaming some of them for raising prices to consumers that are fueling inflation.
Activision's shares ended trading at $82.15 on Wednesday, well below the $95 per share
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