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Activision Blizzard End Game – InsideArbitrage Friday Wrap

  • July 14, 2023


Our list of curated tweets for the current week

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Activision Blizzard (ATVI) and Microsoft (MSFT)

Big jump in $ATVI $MSFT deal's implied odds of going through

Federal Trade Commission Chair Lina Khan is taking on the world’s biggest technology companies—and losing

Bloomberg reports that Microsoft is considering selling UK cloud-gaming rights to a telecommunications, gaming, or internet company to allow the Activision deal to close with the CMA.

$ATVI $MSFT- UK appeals court sets Monday for hearing on Microsoft-Activision deal

US appeals court opens docket on FTC effort to overturn loss on Microsoft deal

FTC wants Judge Corley to issue an injunction to prevent Microsoft from merging with Activision until after the Court of Appeals has made their decision.

Today, Turkey unconditionally approved our merger with Microsoft.

ATVI likely to close soon at 95. But here’s a less known arbitrage

The #FTC could be looking to appeal the Microsoft-Activision ruling this week.

My concern with ATVI & the reason I sold yesterday is the standard the judge applied in her decision.

The CMA announcement to “stand ready” to consider a revised remedy proposal from Microsoft before the case is formally remitted to the agency by the Competition Appeal Tribunal (CAT), is unprecedented and surprising, according to two UK antitrust lawyers following the case.

Special Situations

Exxon to buy Denbury in $4.9 bln deal

Further to our M&A note this week on zero premium takeovers, it's not that we care about sellside price targets

Cashed out of $LMNL today. Arb has been a tough place for much of the past year, so it was nice to get a good win on a small biotech.

EC approves @Broadcom and @VMware tie up.

Absolute $ABST Announces Clearance Under Australia’s Foreign Acquisitions and Takeovers Act

NBT Bancorp $NBTB received regulatory approval to complete the proposed merger of Salisbury Bancorp $SAL.

Emerson/National Instrument: Deal May Face Longer-Than-Expected Review After Simplified Pitch Failed

$LMT $AJRD $LHX - Sen. Elizabeth Warren, others urge DOJ to probe L3Harris purchase of Aerojet

Thoma Bravo/ForgeRock: DOJ Leans Toward Suit, Raising Question of Whether Buyer Will Defend Deal in Court

Nano does not want this merger! They know $SSYS & $DM will have monster company!!!

The Stratasys Board has not changed its unanimous approval, recommendation and declaration of advisability of the Desktop Metal transaction.

$CD - I mean bidding war on datacenters in China - sign me up!

$AVTA According to Bloomberg, Avantax, a provider of wealth-management software and services, is exploring options including a potential sale.

Imax is seeking to buy out its Hong Kong-traded Chinese subsidiary in a deal valued at $124 million.

Also, Uber CEO Dara Khosrowshahi recently sold shares of the ride-hailing company for the first time in the last two years.

Things seem to be changing for Shell under its new CEO.

Vermilion restarts its share buybacks $VET.TO

Tech heavyweight Alibaba Group Holding Ltd said on Sunday it is considering whether or not to participate in its affiliated company Ant Group's share repurchase plan

$PSMT: PriceSmart looks like a good deal after beating EPS estimates, announcing share buyback


$COIN stock is up 100%+ since the SEC charged it with being an illegal operation, making $ billions running various illegal schemes.

I start feeling a tiny bit frustrated... which historically happened when things got a little stretched.

ChatGPT is under investigation by the Federal Trade Commission over whether it has harmed people by publishing false information about them

Goldman Sachs offloads $1 billion of Marcus loans to Varde


The U.S. Economy

US Core inflation runs below target on a MoM annualized basis now

A key reason for the slowdown is that the latest figure is compared to June 2022, when a rapid run-up in energy prices helped drive inflation to a four-decade high.

June inflation came in cooler than expected, falling to 3% year-over-year headline, and 4.8% core (excluding food and energy).

This was a fun bogeyman. #CPI

Inflation themed day, so here's an update on new home construction cost trends through June.

Is the long awaited recession emerging?