HomeTechnologyMicrosoft Afforded Extra Time to Resolve Activision Deal Issues With British Regulators

Microsoft Afforded Extra Time to Resolve Activision Deal Issues With British Regulators

Microsoft will have two additional months to try to appease British regulators and get its acquisition of  Activision Blizzard over the line. The news came on Tuesday, the same day the proposed takeover was scheduled to close.

Back in early 2022, Microsoft agreed to pay $69 billion for Activision but almost instantly met with resistance from regulators in the U.S. and Great Britain. Both U.S. Federal Trade Commission and British Competition and Markets Authority (CMA) expressed concerns about the deal’s impact on the competition in the industry.

Microsoft won its case against the U.S. Federal Trade Commission, which sought to halt the deal, earlier this month and was set to have an appeal hearing in the case with CMA over the matter later this month. However, Competition Appeal Tribunal (CAT) ended up affording both Microsoft and CMA extra time to try and get to an agreement.

Prior to the CAT’s decision, Microsoft submitted a modified proposal, and CMA expressed willingness to review it.

“Based upon the discussion to date, both sides – Microsoft and the CMA – have confidence that Microsoft notifying a restructured transaction is capable of addressing the concerns that the CMA has identified,” CMA’s lawyer David Bailey said in a statement.

Home Sales Plummeted in August According to Pending Data

Pending home sales for August were down 7.1% from the previous month, data from the National Association of Realtors revealed. This far outpaces the...

Stocks Fall After the Release of GDP Data

U.S. stocks declined on Thursday as investors digested the latest round of GDP data. Estimates on Thursday showed that the U.S. economy's GDP for...

Hyundai and Kia Recall Over 3 Million Vehicles Due to Fire Risk

Hyundai and Kia are in the process of recalling over 3.4 million vehicles in the United States due to a fire risk. Both automakers...