Microsoft-Activision Deal Faces Regulatory Roadblock: WSJ

Four U.S. Senators sent a letter to the Federal Trade Commission citing concerns about Microsoft Corp’s MSFT proposed acquisition of Activision Blizzard Inc ATVI, the Wall Street Journal reports.
The Senators voiced concerns over undermining employees’ calls for accountability over alleged misconduct at the videogame giant.
The deal could aggravate the barrage of sexual abuse, harassment, and retaliation allegations at Activision stemming from recent federal and state investigations.
The deal would enable Activision’s longtime CEO, Bobby Kotick, to continue in his role until the transaction’s expected closing in 2023 and receive a potentially significant exit package upon his departure.
Separately, the California Department of Fair Employment and Housing prosecuted Activision and SEC over allegations of sexual misconduct and workplace discrimination.
Price Action: MSFT shares traded lower by 1.36% at $309.60 on the last check Thursday.