Microsoft Merger With Game Company Postponed

The Microsoft and Activision Blizzard merger deadline has been postponed until October. The deadline has previously been set at July 18. The glitch concerns approval from the UK’s Competition and Markets Authority (CMA), which originally nixed the deal. Microsoft appealed to the Competition Appeal Tribunal, which allowed the company and the CMA to negotiate a new proposal. It is possible that Microsoft could face a new merger investigation when it submits its new proposal but appears to be confident the deal, worth $68.7 billion, will go through by October 18.

Microsoft president Brad Smith tweeted that a new and larger termination fee had been set, meaning Microsoft must pay Activision Blizzard $3.5 billion if the deal does not close before August 29, and $4.5 billion if it fails to close before September 15. So far it has been in the works for 18 months.