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4 big deal reports: Adobe-Figma pact under fire, Tesla mulls Sigma | Pro Recap

By Davit Kirakosyan -- Here is your Pro Recap of the biggest M&A headlines you may have missed on InvestingPro over the past week. Start your free 7-day trial to get this news first.

Adobe shares drop as DoJ considers suing to block Figma deal

Adobe Systems (NASDAQ:ADBE) shares dropped more than 7% following a Bloomberg report that the U.S. Justice Department is planning to file an antitrust lawsuit in March to prevent the company's proposed $20 billion acquisition of Figma.

The European Union is also scrutinizing the deal, with several nations requesting the bloc’s regulator to investigate, while the U.K.'s Competition and Markets Authority (CMA) is reviewing it.

Despite the regulatory challenges, an Adobe spokesperson stated that the company remains committed to closing the deal in 2023 and is actively engaging with regulators in the U.S., U.K, EU, and other jurisdictions. The report also suggests the possibility of an extension until March 2024.

Sigma Lithium shares surge as Tesla considers acquisition bid

Tesla (NASDAQ:TSLA) is considering an acquisition of Sigma Lithium Resources (NASDAQ:SGML), a battery metals mining company, as per a Bloomberg report, citing sources familiar with the matter. According to the report, Elon Musk has discussed the potential bid with his advisors.

Sigma Lithium shares jumped more than 16% on Tuesday, closing the week with an 18% gain.

Microsoft to bring Xbox games to NVIDIA GeForce NOW easing Activision Blizzard takeover fears

Microsoft (NASDAQ:MSFT) and Nvidia (NASDAQ:NVDA) announced a 10-year partnership on Tuesday that will bring Xbox PC games to the GeForce NOW cloud gaming service, allowing gamers to stream titles on various devices.

The deal will also permit Activision Blizzard (NASDAQ:ATVI) PC games to be streamed on GeForce NOW once Microsoft's acquisition is complete. Microsoft said the deal resolves Nvidia's concerns with the acquisition. As a result, Nvidia is offering its full support for regulatory approval of the deal, the companies said.

Microsoft also announced that it has finalized an agreement to bring the latest version of Call of Duty to the Nintendo platform following the Activision Blizzard merger, aimed at easing concerns about the acquisition.

Range Resources surges as Pioneer Natural Resources considers an acquisition

Pioneer Natural Resources (NYSE:PXD) is contemplating the acquisition of Range Resources (NYSE:RRC), according to Bloomberg's sources familiar with the matter. The report suggests that discussions are still ongoing.

Range Resources shares surged nearly 12% on Friday following the report.

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