ATVI - Activision/Microsoft expect remedy working paper from UK agency next week -report

2023-04-06 16:31:17 ET

Microsoft ( NASDAQ: MSFT ) and Activision ( NASDAQ: ATVI ) expect the UK's antitrust regulator will issue its remedy working paper as part of its review of the $69 billion transaction next week.

The UK Competition and Markets Authority is likely to issue the remedy working paper by the end of next week, according to a Dealreporter item, which cited sources familiar.

The report comes after the UK regulator late last month  "provisionally concluded" th at the proposed deal would not reduce competition in the console gaming market, sending Activision shares up 6% on March 24, as investors became more confident that the UK regulator may allow the deal.

The CMA findings in March caused Bank of America to raise the probability of the $69 billion Activision deal closing to 70% from 50%.

The CMA is slated to issue a final report on the matter by April 26 with an April 12 deadline for submissions from the parties.

Earlier Thursday Sony ( NYSE: SONY ) slammed what appeared to be a lighter stance in the UK on the proposed deal, calling a reduced focus on the videogame console mark et "surprising, unprecedented, and irrational."

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