Activision Blizzard to be removed from NASDAQ-100 index ahead of planned Microsoft’s acquisition.
NASDAQ has recently announced that the publisher of Call of Duty, World of Warcraft, and Diablo series is being planned to be replaced on the index by fellow tech company The Trade Desk. Even if Microsoft still has a few hurdles to overcome, it seems the company is already planning to make this move. It seems to be confident that it is able to close its $69 billion acquisition deal with Activision Blizzard.
Be as it may, the US Federal Trade Commission has now filed an appeal for the recent court verdict. They could request a temporary restraining order to prevent the deal from happening, but they are cutting it close. It will expire at 11:59 PM on July 14, 2023, unless the FTC could secure an extension from the appeals court, which is highly unlikely at this point.
Microsoft is also looking to close the deal quickly since the acquisition deal will expire on July 19, 2023. If this happens, Activision Blizzard will get a $3 billion termination fee.