Apple (AAPL) are interested in the UK soccer giant Manchester United (MANU). Meanwhile, it is reported that the Federal Trade Commission will challenge the proposed planning Microsoft (MSFT) acquisition Activision Blizzard (ATVI).
Apple could pay 5.8 billion pounds ($ 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 reportedly sees big opportunities in such a deal.
Apple+ broadcasts Major League Soccer, as well as Friday Night Baseball. Award-winning comedy Ted Lasso is about an American football coach who runs a Premier League soccer team.
The Glazers, pandering to their fans, recently agreed to put the Premier League soccer giant up for sale. They initially set an asking price of 8.25 billion pounds.
Apple stock rose 0.6% to 151.07 in stock market trading on Wednesday after breaking above its 50-day moving average on Tuesday. Dow stock remains below its 200-day moving average.
Manchester United stock rose 26% to 18.80 on Wednesday, a 13-month high. That’s after a nearly 15% rise on Tuesday.
FTC To Challenge Microsoft-Activision?
The Federal Trade Commission is likely to try to block Microsoft’s $69 billion takeover of video game publisher Activision Blizzard. That’s according to Politico, which says an antitrust suit 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. Shares rose 0.9% to 76.59 in Wednesday’s regular session. Activision’s stock traded at a steep discount to its $95-a-share purchase price due to regulatory concerns.
Antitrust regulators in Europe and China are also reviewing Microsoft-Activision.
PlayStation driver Sony (SONY) objected to the Microsoft-Activision deal, worried that Activision’s top sellers such as Call of Duty could become exclusive to the Xbox.
Microsoft stock rose higher on Wednesday. Dow stock closed up 1% at 247.58.
lease follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.
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