Activision Blizzard, Inc. (ATVI) shares are sliding more than 9 percent on Wednesday morning trade after the U.K. regulator blocked the $69 billion takeover of the company by Microsoft.
The shares of the game developer and publisher Activision plunged from a year-to-day high of $86.74 today to below its 52-week range. The company has scheduled its earnings on Thursday.
The Competition and Markets Authority or CMA noted that the acquisition might lead to reduced innovation and fewer choices for U.K. gamers in the future.
Currently, shares are trading at $78.97, down 8.95 percent from the previous close of $86.74 on a volume of 19,359,595.
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