apple (AAPL) is interested in the British soccer giant Manchester United (HAND). Meanwhile, the Federal Trade Commission is said to be challenging the plan Microsoft (MSFT) acquisition of Activision Blizzard (ATVI).
Apple could pay £5.8 billion ($7 billion) for Manchester United, the Daily Star reported. The Dow Jones tech titan has no experience owning a sports team, but CEO Tim Cook sees big opportunities in this deal.
Apple+ broadcasts Major League Soccer as well as Friday Night Baseball. His award-winning comedy Ted Lasso is about an American soccer coach who manages a Premier League soccer team.
The Glazers, bowing to fans, recently agreed to put the Premier League football giant up for sale. They initially set a selling price of £8.25 billion.
Shares of Apple rose 0.6% to 151.07 in trading on Wednesday after recovering from its 50-day moving average on Tuesday. Dow shares are still below their 200-day moving average.
Manchester United shares soared 26% to 18.80 on Wednesday, a 13-month high. This after rising almost 15% on Tuesday.
FTC Challenges Microsoft-Activision?
The Federal Trade Commission is likely to try to block Microsoft’s $69 billion acquisition of video game publisher Activision Blizzard. That’s according to Politico, which says an antitrust lawsuit could come in December. The FTC’s investigation of the Microsoft-Activision deal is not yet complete.
Shares of ATVI fell 3.8% late Wednesday on the FTC report. Shares rose 0.9% to 76.59 in the regular session on Wednesday. Activision’s stock has been trading at a significant discount to its purchase price of $95 per share due to regulatory concerns.
Antitrust regulators in Europe and China are also reviewing Microsoft-Activision.
PlayStation manufacturer Sony (SONY) has opposed the Microsoft-Activision deal, concerned that Activision’s best-sellers, such as Call of Duty, would become exclusive to Xbox.
Microsoft shares rose slightly in late Wednesday. The Dow closed up 1% at 247.58.
leasing, follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.
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