Xbox fans can sleep easy. Although the original deadline for the merger between Microsoft and Activision Blizzard expired this morning. But now both sides have announced that they have agreed to an extension. They have until October 18, 2023 to complete the acquisition..
According to experts, Microsoft could have completed the merger on time, but wants to wait for the UK Competition and Markets Authority (CMA) decision. On Monday, both companies agreed with the CMA to suspend legal proceedings for two months to renegotiate terms.
Pending the final decision of the CMA, which should be no later than 08/29/2023, mentions also Lulu Cheng Meservy, chief operating officer and chief corporate officer of Activision Blizzard. A factor in the decision to extend the acquisition deadline was that the UK authorities acknowledged that remedial measures were in place to address their concerns. Besides 40 markets have already approved the acquisitionincluding the European Union and Japan. An additional three months should give enough time to overcome the final hurdles.
Microsoft and Activision Blizzard have extended their merger agreement through October 18. We are optimistic about how to do this and are excited to bring more games to more players around the world.
— Phil Spencer (@XboxP3) July 19, 2023
Source :Indian TV
