MSFT - U.K. issues preliminary approval for Microsoft-Activision merger

2023-09-22 03:28:48 ET

The U.K.'s competition regulator sees "reasonable grounds" for a merger between Activision Blizzard ( NASDAQ: ATVI ) and Microsoft ( NASDAQ: MSFT ) after the latter submitted revised terms for the $69B deal.

The restructured proposal "opens the door" to the deal being fully cleared after gathering third-party feedback. The tie-up had already been approved in every other global jurisdiction, with the FTC withdrawing its lawsuit surrounding the merger in July.

"As I said when we announced the deal, this transaction will help us accelerate our ambitions for the future of gaming and enable us to better serve our players," Activision Blizzard ( ATVI ) CEO Bobby Kotick wrote in an email to employees. "Microsoft recognizes the commitment to excellence and creative independence that has served us well for the last 30 years. I am confident that their resources, technology, and tools will provide us even greater opportunities to create even better games."

More on Microsoft-Activision

• Activision: A Buy Whether The Deal Closes Or Not
• UK antitrust regulator likely to make decision on Activision/Microsoft next week
• Activision Blizzard: Buy The Upward Surge (Technical Analysis)

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