Should You Buy Activision Blizzard Before Microsoft Does?

On Jan. 18, news broke that Microsoft (NASDAQ: MSFT) had agreed to acquire video game developer Activision Blizzard (NASDAQ: ATVI) in a cash deal valued at $68.7 billion. That's equal to $95 per share, which caused the stock price of Activision Blizzard to spike from the low $60s it was trading at.

With Activision now trading around $80 a share, there's a gap between where the stock is and Microsoft's agreed price to buy it. That's a potential arbitrage opportunity, offering a shot at buying the stock today and pocketing the roughly $15 difference per share once the acquisition closes. But is it that simple? Here's what investors need to know.

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Source Fool.com