Activision stock surges 37% following news that Microsoft will buy the video game giant

Activision (ATVI.US) stock soared about 37% before the opening bell after Wall Street Journal reported that Microsoft would buy the video game giant for $68.7 billion. Activision is creator of many iconic titles, including Call of Duty, World of Warcraft, StarCraft, Diablo which have been dealing with a lot of controversy recently after reports of sexual misconduct and harassment among the company’s  top managment surfaced. In the case of Microsoft, it would be the biggest takeover deal ever. Microsoft shares fell more than 2% following the announcement.

Activision (ATVI.US) stock rose sharply in premarket before trading was halted. Source: xStation5