UK Regulator CMA Extends Deadline In Microsoft’s Activision Blizzard Acquisition Case

U.Ok. regulatory company, the Competition and Markets Authority, has prolonged its deadline for delivering a doubtlessly new ruling on Microsoft’s Activision Blizzard acquisition by six weeks. 

In April, the CMA blocked this acquisition over cloud gaming considerations, making Microsoft’s battle for the inexperienced mild on this acquisition tougher. But it shifted its sights on the Federal Trade Commission within the U.S. afterward, with plans to enchantment the CMA’s ruling within the meantime. 

Earlier this week, California Judge Jacqueline Scott Corley denied the FTC’s request for a preliminary injunction in its case to dam Microsoft and Xbox from buying Activision Blizzard. Shortly after that call, Microsoft introduced it paused its enchantment efforts within the U.Ok. to barter with the CMA. The deadline for the CMA to pay attention and contemplate Microsoft’s new however at the moment unknown proposal to have the regulatory company reverse course and rule this acquisition can undergo within the U.Ok. was July 18. But the CMA has prolonged that deadline by six weeks to the brand new August 29, 2023 date. 

Here’s what the CMA wrote in its extension submitting: 

“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. As such, the Inquiry Group considers that there are special reasons to extend by six weeks under section 41A(2) of the Act the period for the discharge of its duty under section 41(2) of the Act. The revised period will therefore end on 29 August 2023. However, the Inquiry Group aims to discharge its duty as soon as possible and in advance of this date.” 

This new date provides one other wrinkle to Microsoft’s acquisition efforts. The firm’s deadline to shut the deal is July 18. After the FTC’s ruling – its enchantment was denied, as anticipated, by Judge Corley, however a call has not been made by the United States Court of Appeal for the Ninth Circuit – Microsoft can theoretically shut on time. 

In reality, New York City-based inventory trade NASDAQ introduced yesterday that it’s eradicating Activision Blizzard from the market earlier than it opens on Monday, July 17, seemingly alluding to Microsoft closing the deal earlier than then or shortly after (thanks, Tom Warren of The Verge). All indicators level to Microsoft closing the deal by its July 18 deadline; nonetheless, that leaves the query of the U.Ok. If it closes July 18 with out an up to date ruling (presumably in Microsoft’s favor) from the CMA, Microsoft possible must carve the U.Ok. out of the deal or assume that later down the street, earlier than August 29, the 2 events will attain a satisfying settlement. But solely time will inform. 

To atone for every thing that’s occurred up to now, first examine Microsoft revealing it was buying Activision Blizzard for a colossal $69 billion and take a look at this story about how the CMA blocked this acquisition within the U.Ok. over cloud gaming considerations. After that, examine how the FTC’s preliminary injunction request was denied by a California choose this week after which examine Microsoft’s new plans to barter one thing passable with the CMA.

Do you suppose Microsoft and the CMA will come to a passable settlement? Let us know within the feedback beneath!