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Microsoft Merger with Activision Blizzard Deadline Extended to October 18th
Blizzard
Publié
19/07/2023 à 11:51
par
Archimtiros
The merger deadline between Microsoft and Activision Blizzard has been officially extended to October 18th, giving the companies time to work out a new deal with the UK Competition and Markets Authority, the last remaining hurdle after
defeating the Federal Trade Commission in court
last week.
The extension was confirmed by both
Microsoft President Brad Smith
and
Activision CCO Lulu Cheng Meservey on Twitter
, highlighted again by
Activision Blizzard CEO Bobby Kotick
in an email to employees today.
Activision Blizzard CEO Bobby Kotick
Team,
I know many of you have questions about our merger with Microsoft. I am happy to share that based on our continued confidence in closing our deal, the Activision Blizzard and Microsoft boards have mutually agreed not to terminate the deal until after October 18.
This merger is great for players, workers, and our business, and it will create opportunities to compete against companies with large talent pools, strong IP and complete control of their markets. Our merger is cleared to close in over 40 countries already, and we remain confident in resolving any remaining regulatory concerns in the UK.
I appreciate your patience through the process. As always, thank you for your continued dedication and work. I’ll share more updates as we have them.
With gratitude,
Bobby
Both sides agreeing to extend the date this way bypasses the
termination clause
which otherwise would have required Activision Blizzard to pay Microsoft $2.27 billion to Microsoft or Microsoft to pay upwards $3 billion to Activision Blizzard depending on the specific circumstance, while the three month will raise those fees to $3.5 billion if the deal somehow manages to fall apart after August 29th or $4.5 billion after September 15th.
This seems extremely unlikely though, as Microsoft is already negotiating with the CMA, which is set to issue a final order by August 29th, with Head of Xbox and Microsoft Gaming CEO Phil Spencer sharing his own optimism in an email to employees.
Microsoft Gaming CEO Phil Spencer
Team,
Microsoft and Activision Blizzard remain optimistic that we will get our acquisition over the finish line, so we have jointly agreed to extend the merger agreement to October 18, 2023. While we can technically close in the United States due to recent legal developments, this extension gives us additional time to resolve the remaining regulatory concerns in the UK.
I want to thank everyone for your time and energy in support of the regulatory process and on all the great work coming to fruition for Xbox this year. Players around the world will be delighted with the incredible lineup of games launching in the next few months, including Starfield and Forza Motorsport. It is also great to see the fantastic work the ABK teams are delivering for their players with the successful launch of Diablo IV and the ongoing performance of Call of Duty: Modern Warfare II, and we congratulate them on their accomplishments.
As we move even closer to the finish line, we are more excited than ever before about furthering our mission to bring more games to more players everywhere.
Phil
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