new support for Microsoft’s acquisition of Call of Duty creator
Activision Blizzard’s projected $69 billion (£52.6 billion) acquisition by the internet behemoth would be the largest-ever deal in gaming history.
The proposed transaction has encountered numerous legal obstacles in the US and divided regulators everywhere.
It must be finished by July 18th.
The Competition and Markets Authority (CMA), a UK regulatory body, has stated it will extend the review period for the merger by an additional six weeks.
The CMA initially opposed the acquisition on the grounds that it would reduce competition in the newly developing cloud gaming market.
Nevertheless, the CMA declared on Wednesday that it was “ready to consider any proposals from Microsoft to restructure the transaction” after a US judge rejected the FTC’s attempts to have the sale blocked.
Now, it has stated that it needs until August 29 to give the “detailed and complex” submissions it has received from Microsoft a “full and proper consideration,” but it claims it “aims to fulfill its duty as soon as possible and in advance of this date.”
Late on Thursday, US District Judge Jacqueline Scott Corley denied the FTC’s plea to block the Microsoft-Activision merger negotiations.
It was the most recent decision in a protracted legal dispute between Microsoft and the FTC on the proposed takeover.
Since then, the FTC has requested a “temporary pause” on the transaction from a different court.
It is more possible that Microsoft and Activision will have to negotiate a delay from their original completion date if there are any unresolved regulatory difficulties.
Without a contract, either business would be free to back out of the deal. Microsoft would be responsible for paying Activision a breakup fee of up to $3 billion if the merger does not proceed.