Microsoft and Activision Blizzard extend merger deadline to October 18
Microsoft and Activision Blizzard have agreed to extend the deadline for the closure of Microsoft’s proposed acquisition of Activision Blizzard from July 18 to October 18 to allow for additional time to resolve remaining regulatory concerns, the companies announced.
“Microsoft and Activision Blizzard have extended the merger agreement deadline to October 18,” Microsoft Gaming CEO Phil Spencer said in a tweet. “We’re optimistic about getting this done, and excited about bringing more games to more players everywhere.”
As a result of the extension, Activision Blizzard is entitled to pay $0.99 per share to its shareholders, and both parties have agreed that the deal termination fee is not subject to any condition other than failure to close. If the deal does not close by August 29, the termination fee payable by Microsoft if the agreement is terminated will increase from $3 billion to $3.5 billion, and if it does not close by September 15, it will increase from $3.5 billion to $4.5 billion.
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