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Activision: The analysts still see a way ahead for Microsoft's acquisition of Activision.
Last week, the companies asked a federal judge to hold at least a five-day hearing on the Federal Trade Commission's request for a preliminary injunction to block the $69B videogame deal.
The analysts said they have been positively surprised by Microsoft's level of commitment to getting a deal done, and it appears that challenges in the U.S. and the U.K. are nearing some form of a resolution in the near-term.
However, the broader market is not so enthusiastic, and the analysts calculate implied deal probabilities at not over 20% across the curve based on current scenarios. The firm sees this as providing investors with an enticing risk/reward trade-off, which drives its Overweight rating.
J.P. Morgan Neutral on Take-Two, maintains Activision rating | Seeking Alpha
