: Activision Blizzard shares rally as judge denies FTC injunction clearing Microsoft acquisition

Shares of Activision Blizzard Inc. ATVI rose Tuesday after a federal judge denied the Federal Trade Commission injunction blocking the videogame publisher’s acquisition by Microsoft Corp. MSFT Activision shares rallied 5%, while Microsoft shares declined 0.5%. When hearings began in late June to determine whether the FTC had a case in blocking the deal, Microsoft had stated the deal hinged upon the judge’s decision. “Our merger will benefit consumers and workers. It will enable competition rather than allow entrenched market leaders to continue to dominate our rapidly growing industry,” said Activision Blizzard CEO Bobby Kotick in a statement following the ruling.

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