Activision ticks lower on report Microsoft deal may get expanded review in the U.K.

Aug. 25, 2022 10:29 AM ETActivision Blizzard, Inc. (ATVI), MSFTBy: Joshua Fineman, SA News Editor20 Comments

Microsoft To Purchase Game Maker Activision Blizzard

Mario Tama

Activision (NASDAQ:ATVI) ticked down 0.5% on a report that Microsoft's (NASDAQ:MSFT) planned $69 billion takeover may see an expanded review by U.K. antitrust regulators.

The U.K.'s Competition and Markets Authority reportedly had an "issues meeting" with Microsoft (MSFT) to express its worries about a transaction with ATVI, according to traders, who cited a Capitol Forum report circulating.

The report comes after Microsoft (MSFT) gaming chief Phil Spencer said in an interview with Bloomberg on Wednesday that he feels good about the progress the tech titan has made with regulators over its proposed acquisition of Activision (ATVI).

“I feel good about the progress that we've been making, but I go into the process supportive of people who maybe aren't as close to the gaming industry asking good, hard questions about, what is our intent? What does this mean?" Spencer said. "If you play it out over five years, is this constricting a market? Is it growing a market?

Microsoft (MSFT) announced its $69B deal to buy Activision Blizzard (ATVI) for $95 per share in cash in January.

Last month, it was reported that Europe's antitrust regulator was looking into whether Microsoft's (MSFT) planned $69B purchase of Activision (ATVI) may shut out rivals.

The U.K.'s antitrust regulator is also looking into the deal, having opened an inquiry into the deal to see if it will impact rivals.

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