Lululemon to Join S&P 500 as Microsoft's Acquisition of Activision Blizzard Closes

By Sabela Ojea

Lululemon Athletica is joining the S&P 500 index as it becomes one of the largest publicly traded companies in the U.S. with a market capitalization of $49 billion.

The company's addition to the S&P 500 will become effective on October 18.

The maker of workout gear will replace Activision Blizzard, acquired by Microsoft in a transaction completed on Friday, the S&P Dow Jones Indices said. The $75 billion merger just won the backing of U.K. competition authorities after the companies spent more than a year and a half trying to convince regulators to approve the deal.

Lululemon's sales and stock price have recently surged even as inflation-weary shoppers have cut back on purchases of clothing and other products in favor of travel and experiences.

Write to Sabela Ojea at [e-mail]; @sabelaojeaguix

(END) Dow Jones Newswires

10-13-23 1817ET