Microsoft and CMA Granted Additional Two Months to Resolve Activision Blizzard Acquisition
Microsoft has been given the green light to close its proposed $69 billion acquisition of Activision Blizzard in the US, which is edging ever closer to completion, with the UK being the last major market where the deal is still being held up after the Competition and Markets Authority (CMA) blocked the acquisition in April.
Recently, however, it was announced that Microsoft and CMA had suspended litigation and started negotations regarding the deal, while shortly afterward, the UK regulatory body announced that it had pushed the deadling for its final decision on the acquisition back until August 29.
Now, as reported by Reuters, the UK’s Competition Appeal Tribunal (CAT) has also granted a two month extension, allowing a stay on legal proceedings in order to allow Microsoft and the CMA to resolve any issues surrounding the deal. Legal proceedings for Microsoft’s appeal against the CMA’s block were originally set to kick off on July 28.
The CMA said last week that the acquisition might still face a new merger investigation once Microsoft puts forward a restructured deal in front of the regulatory body. Previously, reports have claimed that Microsoft has considered completely withdrawing Activision Blizzard from the UK in order to work around the CMA’s block.
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