FTC Wants More Information About Microsoft's Deal to Acquire Activision

pcmag.com:

Microsoft's deal to acquire Activision Blizzard for $68.7 billion was always going to be subjected to close scrutiny, and the FTC just asked both companies for more information.

As Wccftech reports, Activision Blizzard published a 70-page proxy filing which including reference to the request by the FTC. As the proxy filing explains:

"On March 3, 2022, Activision Blizzard and Microsoft each received a request for additional information and documentary material (which we refer to as a “Second Request”) from the FTC in connection with the FTC’s review of the transaction. The effect of the Second Request is to extend the waiting period imposed under the HSR Act until the 30th day after substantial compliance by Activision Blizzard and Microsoft with the Second Request, unless the waiting period is terminated earlier by the FTC or as otherwise agreed between the parties and the FTC. Completion of the transaction remains subject to the termination or expiration of the waiting period under the HSR Act and the satisfaction or waiver of the closing conditions specified in the merger agreement."

Both Microsoft and Activision still intend to have the deal completed before the end of Microsoft's fiscal year on June 30, 2023. However, it's not just the FTC's approval standing in the way of Microsoft's billions.

The proxy filing also includes an invite for Activision Blizzard stockholders to a virtual "special meeting" where they will vote either for or against the merger with Microsoft. The company's board of directors are obviously encouraging all stockholders to approve the deal, and in return $95 in cash will be received for every share of common stock.

As the filing makes clear:

"Your vote is very important, regardless of the