Activision falls 4% on report FTC may block Microsoft deal

EPA/MICHAEL NELSON

Shares of Activision Blizzard dropped more than 4% in Friday's premarket trading after reports emerged that the United States Federal Trade Commission (FTC) is planning to block Microsoft's proposed $69 billion acquisition of the game maker.

People familiar with the matter told Politico that the FTC lawsuit is not guaranteed yet as commissioners are yet to vote on the matter, but the FTC staff looking into the agreement are said to be "skeptical of the companies' arguments" in favor of the deal. The acquisition is already under in-depth probes in the European Union and the United Kingdom amid regulators' worries the deal could "significantly reduce competition."

Activision Blizzard slid 4.03% to $73.50 at 5:37 am ET.

Baha Breaking News (BBN) / NP