The US Justice Department and SEC are investigating potential insider trading connected to Microsoft’s $69bn buyout Activision, the Wall St Journal has reported, and specifically the large bets placed on stock by three men, just days prior to the deal becoming public.
On 14th January, the men spent more than $100m on Activision stock options priced at just $40/share, underneath the company’s then $63 price. In effect, they were already making a profit.
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