Microsoft not too long ago overcame a significant hurdle in getting closing approval from authorities for its proposed $69 billion acquisition of Activision Blizzard, when the FTC was not too long ago denied an injunction that might have briefly suspended the deal (though the FTC appealed the ruling). . Shortly after, it was confirmed that Microsoft and the UK’s Competitors and Markets Authority (CMA) had additionally agreed to droop litigation and start negotiations, though the method will take just a little longer than Microsoft would love.
Whereas the CMA beforehand needed to problem a closing ruling on the proposed acquisition by July 18, it has now introduced a deferral of that closing determination. “The CMA believes there’s inadequate time remaining within the statutory interval for a full and honest evaluate of Microsoft’s submitting on the proposed order,” the regulator mentioned. “As such, the inquiry crew believes there are particular causes for the six-week extension.”
The brand new deadline for the CMA’s closing ruling is now set for August 29, though the regulator says it “goals to discharge its responsibility as quickly as attainable and earlier than this date”.
The CMA not too long ago mentioned its negotiations with Microsoft have been nonetheless “in an early stage” and that if the corporate chooses to suggest a restructured deal throughout negotiations with the CMA, it may nonetheless “result in a brand new merger investigation.” .
Beforehand, it was reported that Microsoft is contemplating pulling Activision Blizzard out of the UK fully to get across the CMA blockade. Learn extra about this right here.