UK Tribunal Approves Pause on Microsoft's Activision Acquisition
The Competition Appeal Tribunal in the UK has given the go-ahead to a joint application by the Competition and Markets Authority (CMA) and Microsoft (NASDAQ: MSFT) for an adjournment on Microsoft's proposed purchase of Activision Blizzard (NASDAQ: ATVI).
Microsoft's Revised Deal Structure Expected by CMA
The CMA is now waiting for Microsoft to present an altered deal structure. This modification is a strategic move by the software titan, aimed at ensuring the deal receives the green light from UK regulators for the acquisition of "Call of Duty" developer, Activision.
Extended Deadline and Pause in Appeals Process
The CMA, as part of the new arrangement, has pushed its final deadline on the deal to August 29. In conjunction, Microsoft and the CMA submitted a request to the Tribunal to hold the appeals process, which was consented to in a statement released last Friday.
Original Block on Deal and Reopened Talks
Earlier in April, the CMA had thrown a spanner in the works, blocking the impressive $69 billion deal on the grounds of potential detrimental effects on competition within the cloud gaming market. However, discussions on the deal have since resumed, paving the way for potential adjustments that could turn the tides in favor of this landmark acquisition.
