The completion of Microsoft's acquisition of Activision Blizzard is facing further delays
Microsoft and Activision Blizzard have mutually agreed to extend the deadline for their impending merger. The companies now have until October 18 to finalize the deal, granting them additional months beyond the original cutoff date.
Initially set for July 18, Microsoft’s acquisition of Activision Blizzard faced hurdles before reaching the finish line. The tech giant had to confront the Federal Trade Commission (FTC) in a court case to determine the deal’s fate. Thankfully, a San Francisco judge ruled in favor of Microsoft just days before the July deadline. With a few loose ends to address, Microsoft now has until mid-October to complete the merger.
The announcement of the deadline extension came from a tweet by Xbox and Microsoft’s top executive, confirming that both parties reached a mutual agreement to adjust the timeline. Microsoft’s president, Brad Smith, stated that the decision aims to address remaining regulatory matters.
Activision Blizzard has also released a statement regarding the extension, aligning with Brad Smith’s sentiments. They stated, “Considering the global regulatory approvals and our confidence that the U.K.’s Competition and Markets Authority now acknowledges available remedies to address their concerns, both Activision Blizzard and Microsoft’s boards of directors have agreed not to terminate the deal until after October 18. We remain optimistic about our next steps and anticipate a swift closure of the deal.”
This extension grants Microsoft additional time to negotiate with the U.K.’s Competition and Markets Authority, who posed the final obstacle for the deal. Meanwhile, the FTC is still exploring options to halt the deal following an unsuccessful attempt at Supreme Court intervention. As it stands, it appears likely that Microsoft will conclude the acquisition by October.