MSFT - Microsoft offers remedies in European review of Activision deal

2023-03-17 07:21:03 ET

• Microsoft ( NASDAQ: MSFT ) submitted remedies to the European antitrust regulator for it planned $69 billion acquisition of videogame giant Activision ( NASDAQ: ATVI ) as tries to win the regulator's approval.
• The European Union deadline to rule on the Activision deal has now been extended to May 22 after the concession offer was made on Thursday, according to the EU regulator's website. Details of what remedies were offered weren't provided.
• The update comes after Reuters reported earlier this month that Microsoft ( MSFT ) is likely headed toward EU approval for the mega transaction, thanks to its offers to license videogames to its competitors.
• Although winning European Union approval would be a positive step in the regulatory process ,most investors are focused on the U.K.'s antitrust authority, where the deal has faced backlash from regulators, who are scheduled to make their final decision on the transaction on April 26.
• Also see, Microsoft, Sony ( SONY ) still at odds in UK over "Call of Duty," $69B Activision deal.

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