Back in July, Barron’s made the case for buying
Activision Blizzard
stock in anticipation of
Microsoft
closing its $69 billion acquisition of the company. With
Activision
shares trading at a significant discount to the deal price, the stock looked closest to a sure thing in an increasingly uncertain market.
Four months later, the risks of the deal falling apart over antitrust concerns haven’t changed. What has changed is the outlook for Activision’s business. The firm behind Call of Duty and Candy Crush is suddenly doing quite well on its own.
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