Microsoft and Activision Blizzard have agreed to extend the merger agreement until October 18
On July 18, the deal between Microsoft and Activision Blizzard was supposed to be completed. However, the merger was decided to be postponed in light of negotiations with British regulators. Now the papers must be signed no later than October 18.
Apparently, before that date, Microsoft hopes to find a common language with the UK Competition and Markets Authority (CMA), which blocked the deal this spring, considering that it would harm competition in the cloud gaming market.
As stated by Lulu Cheng Meservey, director of communications at Activision Blizzard: “the management of the companies decided to postpone, because they are confident that the CMA now recognizes the existence of legal solutions concerning their concerns in the UK.”
The amount of the fine has also increased if one of the parties refuses to complete the transaction. If the refusal occurs before August 29, it will amount to $ 3.5 billion, and if it happens after September 15, it will be equal to $4.5 billion.
