Paul David Nuñez October 6th, 2023 - 11:53 AM
The Verge reports that Microsoft is planning to finalize its $68.7 billion proposed acquisition of Activision Blizzard next week. A source familiar with Microsoft’s plans told The Verge that Microsoft is eyeing Friday, October 13 as the closing date. However, the date will depend on the UK’s Competition and Markets Authority.
scoop: Microsoft is planning to finalize its $68.7 billion proposed acquisition of Activision Blizzard next week. Microsoft is currently eyeing up Friday October 13th… unlucky for some.
Details here 👉 https://t.co/h9Wjox8i63 pic.twitter.com/iNPc7kENIB
— Tom Warren (@tomwarren) October 6, 2023
The CMA blocked the deal earlier this year due to fears of Microsoft potentially having the ability to “alter the future of the fast-growing cloud gaming market, leading to reduced innovation and less choice for UK gamers over the years to come.” A few weeks ago, Microsoft announced that it has restructured the deal and agreed to sell cloud streaming rights for Activision Blizzard titles to Ubisoft. This led to the CMA granting preliminary approval for the deal. The deadline for the CMA’s decision expires today on gathering opinions over whether or not it should grant consent to Microsoft to proceed with the merger. The CMA’s final decision is expected next week.
Microsoft and Activision also announced that they extended their deal deadline to October 18 after missing its original deadline back in July.
The CMA hasn’t been the only one who was skeptical of Microsoft’s acquisition of Activision Blizzard. The FTC filed an injunction preventing the deal earlier this year which led to a trial between FTC and Microsoft. In the end, Microsoft won the trial. The FTC tried to appeal the verdict but was denied. They eventually paused their trial against the deal. The FTC still appealing the outcome of that hearing with the Ninth Circuit Court of Appeals, and a decision is due in early December. Recently, they announced the revival of its lawsuit which will commence 21 days after the Ninth Circuit rules on the FTC’s appeal.
