Microsoft to buy Activision Blizzard in a deal at $68.7 billion By

(Reuters) -Microsoft Corp said on Tuesday it would buy videogame publisher Activision Blizzard (NASDAQ:) for $68.7 billion in cash, the largest deal in the sector.

Microsoft (NASDAQ:)’s offer of $95 per share is at a premium of 45% to Activision’s Friday close. Shares of Activision were up nearly 38% to $65.39 before being halted for news.

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