Microsoft and Activision Blizzard have announced an extension to the deadline for Microsoft’s acquisition of the game developer. Previously set for this week, the deadline has now been pushed to October 18. This extension comes as the companies continue to face obstacles in gaining approval from U.K. regulators. As part of the extension, there will be a higher termination fee and new commercial arrangements.
Activision reassured that the recent decision in the U.S. and approvals in 40 countries confirm the deal’s benefits for competition, players, and the future of gaming. They believe that the U.K.’s Competition and Markets Authority (CMA) recognizes the availability of remedies to address their concerns. Therefore, the boards of directors for Activision Blizzard and Microsoft have agreed not to terminate the deal until after October 18. They express confidence in the next steps and anticipate a swift closing of the deal.
Phil Spencer, head of Xbox, confirmed the extension and Microsoft’s determination to proceed with the acquisition. He expressed optimism about completing the deal and bringing more games to players worldwide.
In the U.K., a British judge conditionally approved a joint request from Microsoft and the CMA to delay an appeal that was initiated after the agency initially rejected the deal. The CMA has postponed its final decision to reconsider the impact of new developments.
CMA had blocked Microsoft’s proposed acquisition in April, expressing concerns about potential hindrances to the future of cloud gaming. The agency launched an investigation into the $68.7 billion deal to acquire the creators of the popular “Call of Duty” franchise.
While the deal has received approval from the European Union and several other countries, it still awaits the green light from U.K. regulators.
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