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 (NASDAQ:MSFT) proposed acquisition of Activision Blizzard Inc (NASDAQ: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.