Microsoft recently cleared a major hurdle in getting final approval from authorities for its proposed $69 billion acquisition of Activision Blizzard, when the FTC was recently denied an injunction that would have temporarily suspended the deal (though the FTC has since filed an appeal against the ruling). Shortly afterward, it was confirmed that Microsoft and the United Kingdom’s Competition and Markets Authority (CMA) had also agreed to pause litigation and begin negotiations– though the process is going to take a little longer than Microsoft would want.
While previously the CMA was set to render a final ruling on the proposed acquisition by July 18, it has now announced a delay to that final decision. “The CMA considers that there is insufficient time remaining in the statutory period for full and proper consideration of Microsoft’s submission on the proposed Order,” the regulator said. “As such, the Inquiry Group considers that there are special reasons to extend by six weeks.”
The new deadline for the CMA’s final ruling is now set for August 29, though the regulator says it “aims to discharge its duty as soon as possible and in advance of this date.”
Recently, the CMA said that its negotiations with Microsoft were still “at an early stage”, and that should the company choose to propose a restructured deal during its negotiations with the CMA, it could still “lead to a new merger investigation.”
Previously, it has been reported that Microsoft has considered pulling Activision Blizzard out of the UK entirely in order to work around the CMA’s block. Read more on that through here.
CMA Delays Final Decision on Microsoft’s Acquisition of Activision Blizzard Until August 29
Source: News Beginning
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