Microsoft-Activision review gets two more weeks from Europe watchdog

The fate of Microsoft's (NASDAQ:MSFT) $69B deal to acquire Activision Blizzard (NASDAQ:ATVI) will get a few more days of examination at Europe's antitrust watchdog.

The European Commission has given a short extension to the time it's using to review the deal, adding two weeks to its provision deadline, moving it to April 25.

That's a 10-working-day extension of the deadline. The panel had also set a similar 10-working-day extension to its deadline back in November.

The next likely catalyst is Microsoft offering proposed remedies to the EC as the watchdog weighs the deal.

Microsoft emerged from a closed-door hearing with the EC on February 21 and reiterated its case for the deal, saying it would help bring Activision's perennial hit Call of Duty to as many as 150M more gamers if allowed to complete the purchase.

Comments

[Caywyn]

I feel like that chart Brad Smith has in the photo pretty much says it all. In fact if he were talking to reasonable unbiased people all he’d need do is just stand next to it with his hands out like that for a few minutes and not say anything.

[Jlexus1953]

Look for a deal to happen with concessions although it’s difficult to see beyond spending 69 billion to acquire a company that generated 7.5 billion in revenue last year. Obviously there is a bigger picyure

[DavG]

How does all this “ opportunity “ look if fed funds are 5.5-6% ?

[investerinquiry999]

EU doesn't need more time if it plans to block. This suggests that the EU will likely approve, with remedies.

[MyDivvyStocksFellAndCantGetUp]

@investerinquiry999 they need more time to sell calls that will expire worthless

[Caywyn]

@investerinquiry999 That’s what I was thinking as well. Look at the FTC, they were the first to attempt to block it because they weren’t even willing to consider it. Things move quickly if you’re set in your ways and unwilling to consider other options.

[Chicagomary2]

@investerinquiry999 what is the buyout price of atvi?