Microsoft is in talks to extend today's deadline for its $68.7B acquisition of Activision Blizzard.

 

Microsoft is in talks to extend today's deadline for its $68.7B acquisition of Activision Blizzard.  The FTC's unsuccessful block attempt and the U.K. CMA's openness to new talks show positive regulatory momentum for the deal. However, progress won't be swift enough to meet the deadline, according to Bloomberg. In their merger agreement, the companies agreed to set July 18 as the date at which either party could walk away. Microsoft has also agreed to pay Activision $3B if the acquisition is terminated. As a result, Microsoft wants an extension on the deadline to prevent Activision from abandoning the deal or entertaining offers from other buyers.  Meanwhile, discussions in the U.K. are expected to take several days or weeks, with the CMA extending the decision deadline to August 29. The CMA, the final major regulator that could potentially block the acquisition, is concerned the deal would stifle competition and give gamers fewer options. Microsoft has made concessions, including deals to provide rivals Sony and Nintendo with access to Activision's "Call of Duty" games.