Microsoft and Activision Blizzard extend merger deadline to October.

Microsoft and Activision Blizzard extend merger deadline to October.

Microsoft and Activision Blizzard Extend Merger Deadline

Great news for all the gamers out there! Microsoft and Activision Blizzard have decided to extend the deadline for their proposed merger until October 18th this year. It’s like getting an extra life just when you thought it was game over!

Originally, the deadline was set for July 18th (yesterday), and if Microsoft didn’t meet it, they would’ve had to pay Activision Blizzard a whopping $3 billion fine. But hold onto your controllers, because the plot thickens!

Xbox boss Phil Spencer recently dropped the bombshell news of the new deadline on Twitter, and it seems they’ve successfully renegotiated the terms. Looks like they used a secret cheat code to buy themselves more time!

“We’re optimistic about getting this done, and excited about bringing more games to more players everywhere,” said Phil Spencer. Cue the victory music!

Now, let’s talk about the elephant in the room – the UK’s CMA (Competition and Markets Authority). They’ve been causing some gameplay disruptions, concerned about a potential monopoly on cloud gaming. Can’t blame them for wanting to level up fair competition!

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Last week, the CMA extended its decision deadline to take into account a “detailed and complex” proposal from Microsoft. This is like a boss level that requires a skillful strategy and precise timing to defeat!

The CMA has now given themselves an extra six weeks, with a revised deadline of August 29th. It’s like adding more time to complete a challenging side quest!

But don’t fret, fellow gamers! Activision Blizzard’s CCO and EVP of corporate affairs, Lulu Cheng Meservey, expressed confidence that the deal will soon see the light at the end of the tunnel. They’re ready to power up and close this deal!

Microsoft’s vice chair and president, Brad Smith, even spilled some secrets about a potential payout if the deal fails. If they don’t seal the deal by August 29th, Microsoft will owe Activision Blizzard a termination fee of $3.5 billion. This fee will level up to $4.5 billion if they miss the September 15th deadline. So Microsoft better make sure to gather enough coins to pay up if things don’t go as planned!

Speaking of hurdles, in the US, the FTC’s last-ditch attempt to block the deal in court failed. The Ninth Circuit Court of Appeals was like, “Sorry, but we can’t grant you extra lives this time.” And to add to the excitement, gamers’ attempt to block the deal using the Supreme Court also fell flat. It’s like the game developer denying your cheat codes!

Now it’s time for Microsoft and Activision Blizzard to level up their negotiation skills and wrap up a revised deal that will make the CMA happy. After all, they want to please the gaming community and make sure everyone gets access to more awesome games!

So, keep your controllers charged and your gaming skills sharp. We’re on the brink of witnessing a historic merger that will shape the future of gaming. Get ready for the next level!