Citi, a financial services business, has increased the likelihood of Microsoft purchasing Activision Blizzard by 70%.
The Competition and Markets Authority (CMA) of the United Kingdom issued a new report last week, boosting the likelihood of a successful takeover.
The CMA has stated that the acquisition of Microsoft will have no bearing on the console business.
Following this news, Citi has increased its odds of success from 50% to 70%. It also increased its price target from $88 to $91 per share to reflect the probability of a successful close.
Jason Bazinet, an analyst, has also issued a buy recommendation for Activision Blizzard's stock.
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