Sources: Microsoft and Activision Blizzard plan to keep seeking the final regulatory approvals for their $69B deal, despite not closing by the July 18 deadline
The transaction had already moved from Microsoft’s confidence in approval to remedies-centered negotiations: EU regulators were reportedly satisfied by licensing arrangements with Nintendo and Nvidia. The UK process then extended its decision timetable, making the contractual deadline a pressure point rather than the end of the regulatory process.
The parties’ decision to continue signals that both still saw a path through the remaining review. It was followed by a formal extension of the merger agreement, giving the companies more time to resolve the UK outcome.
First-order effects
Microsoft and Activision Blizzard must keep the deal open beyond its original closing date while pursuing the remaining approval, prolonging transaction uncertainty for both companies.
The UK regulator becomes the immediate gating authority, while the companies’ proposed commitments and negotiations remain central to whether closing can proceed.
Second-order effects
The delay preserves uncertainty for rivals and partners over Activision content distribution and Microsoft’s gaming footprint, rather than allowing them to plan around a completed acquisition.
It reinforces the value of licensing commitments as a tool for addressing competition concerns; the earlier reported EU view was tied to Nintendo and Nvidia licensing deals.
Third-order effects
If large gaming acquisitions increasingly require jurisdiction-specific remedies and extended timelines, deal certainty will depend as much on post-announcement regulatory strategy as on the purchase agreement itself.
The case may strengthen scrutiny of acquisitions that combine major game publishers with platform, subscription, and cloud-gaming businesses, though the eventual UK resolution determines how broadly that precedent travels.
The trend: Big-platform gaming consolidation is increasingly being shaped by cross-border antitrust remedies and longer closing timelines.
@tomwarren Would be foolish to close around the CMA right now especially since they are so close to finishing the deal. People also need to understand that MS has made it clear they will continue to acquire some companies after this merger and I'm sure they don't want to piss off…
Bloomberg is reporting that the Activision Blizzard deal isn't likely to close tomorrow. I've been saying the same all weekend. Activision isn't going to walk away and both are close to resolving the CMA UK situation https://www.bloomberg.com/...
For those that were concerned about the looming deadline, both parties (Microsoft & ABK) are locked in and are focused on getting it done and across finish line. Just going to be a bit longer. Patience is a virtue! https://www.bloomberg.com/...
#Microsoft #Activision - 3 loose ends in the US: 1 - Whether FTC keeps fighting the PI appeal, even tho it didn't get a stay 2 - What happens with the Aug. 2 trial at the FTC administrative court 3 - SCOTUS application from the video gamers seeking a block
The @CATribunal hearing has started but there is a request by both parties to deactivate the livestream. Mr Justice Marcus Smith, however, keeps the livestream going! He says it's either private or public, but not public in-person without livestream. Recordings prohibited 🧵1/X
The CAT has agreed, with some requirements, to pause Microsoft's appeal of the CMA decision to block the Activision Blizzard merger. Both the CMA and Microsoft requested this and it looks like we'll now likely see a small delay to the merger https://www.theverge.com/...