2023-07-19 15:10:00
Microsoft and Activision Blizzard game characters
In the struggle for Activision, which lasted a good year and a half, Microsoft had recently achieved an important stage victory.
(Photo: Reuters)
Bangalore The two companies have extended their merger agreement after a legal victory in the fight for Microsoft’s multi-billion acquisition of Activision Blizzard. The new deadline runs until October 18, the video game provider announced on Wednesday. The previous contract expired on July 18. This did not automatically mean that the $ 69 billion deal was over.
However, the partners had the right to withdraw from the deal. According to an insider, Microsoft was the driving force behind the extension. The US group wanted to prevent the “Call of Duty” maker Activision from changing its mind or being lured away by another potential buyer. Microsoft had recently won an important stage in the struggle for Activision that lasted a good year and a half.
Courts rejected an application by the US antitrust authority FTC for a temporary blocking of the merger as well as the subsequent appeal. Due to the concessions made by the companies, the impairment of competition alleged by the FTC is not recognizable. This now faces the choice of whether to withdraw its claim in the main proceedings.
In response to developments in the USA, the British antitrust authority CMA announced that it would reconsider its ban on the takeover. If an agreement is reached with the companies on additional concessions, however, a formal examination must be carried out again.
More: Microsoft sets pricing for commercial AI use
#Microsoft #Activision #extend #acquisition #agreement