Microsoft Had 2 Big Under-the-Radar Announcements Yesterday
The market was on fire yesterday, as receding omicron fears and renewed hope for the Build Back Better bill took stocks largely higher. With all the exciting moves in beaten-down cyclical stocks and small caps, another big story -- actually -- two stories -- around megacap tech star Microsoft (NASDAQ: MSFT) may have slipped under your radar. The headlines were consequential not only in an of themselves, but also for what they mean for Microsoft's growth prospects.
On Tuesday, the European Commission gave its approval for Microsoft's pending deal with Nuance Communications (NASDAQ: NUAN). Microsoft had announced the $16 billion Nuance deal back in April, but its prospects were never totally assured. Microsoft is a large and powerful tech stock, which means antitrust concerns are always a danger for any deal -- especially large ones. The Nuance deal is Microsoft's second largest, after the LinkedIn acquisition in 2016.
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Source Fool.com
