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Activision Blizzard’s share price reached a record high following the announcement it will be acquiring Candy Crush company King.
The publisher’s stock price reached $37 at lunch yesterday (Tuesday November 3rd), and closed at $35.82 at the end of trading.
That is 7.5 per cent higher than its opening price of $33.35, and the highest the company’s share price has ever reached.
This is likely a reaction to the news that Activision Blizzard is buying mobile behemoth King yesterday for $5.9bn. The firm’s better-than-expected Q3 financial results could also have played a role in this rise.
It wasn’t just good news for Activision Blizzard, either. King’s stock price closed trading at $17.84 – a boost of 14.8 per cent from its starting price. For reference, Activision is paying $18 per share for King.
