Yesterday, 18.7 marked the deadline until which Microsoft was required to acquire Activision Blizzard, else they would have had to pay a hefty fine to Activision. Seems like the deal was renegotiated due to the difficulty with courts stalling the matter. A new deadline has been announced on Twitter by Phil Spencer, an Xbox boss.
Microsoft and Activision Blizzard have extended the merger agreement deadline to 10/18. We're optimistic about getting this done, and excited about bringing more games to more players everywhere.
Microsoft has managed to defend the buyout of Activision Blizzard in the US. The recent decision of the judges dismissed the accusations from US Federal Trade Commission about Microsoft building a monopolistic market. The case was dismissed a week ago. Currently there is still the UK Competition and Markets Authority being a roadblock with deadlines being extended until late August.
Let's see whether UK will go against the flow or decide to follow the decisions of the EU and the US.
Last edited by Saka; 20-07-23 at 09:23.
Unamused Snarktooth. Advocate for hearing loss & accessibility. Person, friend and a terrible/terrific* artist.
*delete as appropriate
@Sarkhan Apparetly the termination clause fine was $3 billion, and I found a little bit more information about it now. [...] Smith shed more details about the postponed deadline and termination fees. The fine will increase to $3.5 billion after August 29th, and jump up to $4.5 billion after September 15th. Smith also added that they’ll “honor all commitments agreed upon with the [European Commission] and other regulators, and continue to work with the CMA on the issues raised in the UK.” In closing, he also said the company was “confident” about closing the buyout.
Unamused Snarktooth. Advocate for hearing loss & accessibility. Person, friend and a terrible/terrific* artist.
*delete as appropriate
@Sarkhan Indeed! If I recall correctly, the cancellation fee that Elon Musk didn't want to pay to Twitter while trying to back out of the purchase deal was "just" a $1 bn. Crazy.
Unamused Snarktooth. Advocate for hearing loss & accessibility. Person, friend and a terrible/terrific* artist.
*delete as appropriate
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Last updated 19th February 2021
Welcome to Legion Community (“Legion Community” or the “Platform") - powered by Standing on Giants*- an online communication platform operated by Lenovo (the “Client”).
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