Microsoft Activision Blizzard Acquisition
Microsoft to acquire Activision Blizzard for $68.7bn
Microsoft has agreed to buy video game maker Activision Blizzard, for around $68.7bn, including net cash, in the biggest deal ever for the company.
CMA blocks Microsoft’s acquisition of Activision Blizzard in UK
The Competition and Markets Authority (CMA) in the UK has blocked Microsoft's $68.7bn (£55bn) deal to acquire video game maker Activision Blizzard.
EU approves Microsoft’s acquisition of Activision Blizzard
The European Commission—the body overseeing the Microsoft and Activision Blizzard merger—approved the $68.7 billion deal to go forward
Federal judge blocks Microsoft/Activision deal temporarily
A federal judge in the U.S. has issued a temporary restraining order blocking Microsoft's acquisition of Activision, pending hearings on the preliminary injunction being sought by the Federal Trade Commission in the case.
US Federal Judge denies FTC injunction request as Microsoft/Activision deal moves closer
A federal judge in the U.S. has denied the Federal Trade Commission’s motion for a preliminary injunction to stop Microsoft's acquisition of Activision.
CMA extends deadline for Microsoft/Activision probe
The U.K. competition regulator on Friday said it is extending the deadline for its review of Microsoft's acquisition of Activision by six weeks.
Microsoft and Activision extend merger deadline to October
Microsoft and Activision Blizzard have extended the deadline of their proposed merger until 18th October this year.
Microsoft submits amended proposal to CMA over Activision merger
Microsoft has made amendments to its proposed $69bn (£54bn) takeover of Activision Blizzard, in an attempt to win over the UK competition regulator that blocked the deal.
CMA approves Microsoft Activision deal in UK
Microsoft has closed its $75bn acquisition of Activision Blizzard following its clearance by the CMA, ending 21 months of uncertainty over the video games industry’s biggest-ever deal.
Microsoft Launches $3.65 Billion Exchange for Activision Debt
Microsoft has launched an exchange offer for Activision Blizzard’s outstanding debt as part of its acquisition of the company.
A federal judge in the U.S. has issued a temporary restraining order blocking Microsoft’s acquisition of Activision, pending hearings on the preliminary injunction being sought by the Federal Trade Commission (FTC) in the case.
The temporary order issued by District Court Judge Jacqueline Corley doesn’t do much to suggest which way the court is leaning on the merits of the FTC’s case. A Microsoft spokesperson even acknowledged that “a temporary restraining order makes sense until we can receive a decision from the Court, which is moving swiftly.”
The order “maintain[s] the status quo,” as Judge Corley puts it, by preventing Microsoft and Activision from closing their deal while a more permanent decision on the injunction is pending. And while Microsoft and Activision have said in the past that they will wait for the regulatory process to finish before completing their proposed deal
The FTC say that they sought the restraining order based on “public reporting that Microsoft and Activision Blizzard are considering closing their deal imminently.”
The first hearing on the FTC’s preliminary injunction request is scheduled to start on June 22, giving Microsoft until Friday to file its initial response in the matter. That tight schedule might be to Microsoft’s overall benefit, as Activision CEO Bobby Kotick said Monday that the FTC’s federal injunction request “accelerates the legal process” and that their “excellent legal team has been preparing for this move for more than a year.”
If and when that injunction is granted, the deal will continue to be on pause as the FTC’s wider antitrust case moves forward.
Despite the speedy schedule, the current court timeline makes it extremely unlikely that Microsoft and Activision will be able to close their deal before a contractual July 18 deadline set when the acquisition was first proposed early last year.
While Microsoft would technically have to pay a significant “breakup fee” if that deadline isn’t met, both sides will likely renegotiate a later deadline pending the outcome of outstanding legal issues.
Microsoft and Activision are also appealing a UK government decision to block the merger based on competition concerns in the cloud gaming market. A hearing on that appeal is set for July 28.
