by Apple (AAPL) would be interested in the British football giant Manchester United (MANU). Meanwhile, the Federal Trade Commission will reportedly challenge the expected Microsoft (MSFT) acquisition of Activision Blizzard (ATV).
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Apple vs Manchester United?
Apple could pay £5.8 billion ($7 billion) for Manchester United, the Daily Star reported. Tech titan Dow Jones has no experience with sports team ownership, but CEO Tim Cook reportedly sees big opportunity from such a deal.
Apple+ broadcasts Major League Soccer and Friday Night Baseball. His award-winning comedy Ted Lasso is about an American football manager who manages a Premier League football club.
The Glazers, bowing to the fans, recently agreed to put the Premier League football giant up for sale. They initially set an asking price of £8.25 billion.
Apple stock rose 0.6% to 151.07 in the stock market on Wednesday after rebounding from its 50-day moving average on Tuesday. Dow stock is still below its 200-day moving average.
Manchester United shares skyrocketed 26% to 18.80 on Wednesday, a 13-month high. This is after climbing nearly 15% on Tuesday.
FTC to challenge Microsoft-Activision?
The Federal Trade Commission is likely to try to block Microsoft’s $69 billion acquisition of video game publisher Activision Blizzard. This according to Politico, who says an antitrust lawsuit could come in December. The FTC investigation into the Microsoft-Activision deal is not yet complete.
ATVI stock fell 3.8% in late trading Wednesday on the FTC report. The shares rose 0.9% to 76.59 in the regular session on Wednesday. Activision stock traded at a significant discount from its $95 per share purchase price due to regulatory issues.
Antitrust regulators in Europe and China are also reviewing Microsoft-Activision.
PlayStation manufacturer sony (SONY) has opposed the Microsoft-Activision deal, concerned that Activision bestsellers like Call of Duty could become an Xbox exclusive.
Microsoft shares rallied late Wednesday. Dow stock 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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