Electronic Arts, Take-Two Interactive Shares Gain After Activision Deal
18 Janeiro 2022 - 4:09PM
Dow Jones News
By Will Feuer
Shares of Activision Blizzard Inc. rivals Electronic Arts Inc.
and Take-Two Interactive Software Inc. rose in midday trading
Tuesday after Microsoft Corp. agreed to buy Activision in a deal
valued at nearly $70 billion.
Electronic Arts stock last traded 4.7% higher at $136.60, while
shares of Take-Two Interactive, which recently agreed to buy game
maker Zynga Inc. in a roughly $11 billion deal, were 2.1% higher at
$155.72.
The gains among video game producers came amid a broader market
sell-off that saw the Nasdaq drop 2.4% around midday. The moves
suggest that investors may be betting that video game producers are
becoming attractive targets for bigger media players that are
looking for ways to break into the nascent metaverse.
Electronic Arts, which is behind games such as Apex Legends and
FIFA, fell 8% last year. Its market value now stands at about
$38.54 billion.
Take-Two Interactive, which makes Grand Theft Auto, dropped
about 15% last year, bringing its market value to $17.99
billion.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
January 18, 2022 13:54 ET (18:54 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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