Apple (AAPL) is reportedly interested in the British football giants Manchester United (MANU). Meanwhile, the Federal Trade Commission will reportedly challenge 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 of owning a sports team, but CEO Tim Cook reportedly sees great opportunity in such a deal.
Apple+ will air Major League Soccer as well as Friday Night Baseball. The award-winning comedy Ted Lasso is about a US soccer coach who manages a Premier League soccer team.
Bowing to fans, the Glazers recently agreed to put the Premier League football giants up for sale. They initially set an asking price of £8.25 billion.
Apple shares rose 0.6% to 151.07 in Wednesday trading after recovering from their 50-day moving average on Tuesday. Dow stock is still below its 200-day moving average.
Manchester United shares rose 26% to 18.80 on Wednesday, a 13-month high. That’s after a nearly 15% surge on Tuesday.
FTC challenges Microsoft Activision?
The Federal Trade Commission is likely to seek 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 investigation into the Microsoft Activision deal is ongoing.
According to the FTC report, ATVI shares fell 3.8% in late trading on Wednesday. Shares rose 0.9% to 76.59 in Wednesday’s regular session. Activision shares traded at a significant discount to the $95 per share purchase price due to regulatory concerns.
Antitrust authorities in Europe and China are also examining Microsoft Activision.
PlayStation manufacturer Sony (SONY) has objected to the deal between Microsoft and Activision, concerned that Activision top-sellers like Call of Duty could be exclusive to Xbox.
Microsoft stock rose late Wednesday. Dow stock closed up 1% at 247.58.
Follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.
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