MSFT - UK appeals court sets Monday for hearing on Microsoft-Activision deal

2023-07-14 10:23:58 ET

A UK appeals court has set Monday for a hearing to consider requests by the UK's antitrust regulator and Microsoft ( NASDAQ: MSFT )'s to adjourn the proceeding as the parties discuss the Activision ( NASDAQ: ATVI ) deal. Activision ( ATVI ) rose 1.3%.

The Competition Appeal Tribunal set Monday as the date for the hearing, according to a listing on the tribunal's website.

"A CMC has been listed for 17 July 2023 to consider the application made jointly by all parties to adjourn these proceedings pending further discussions between the CMA and Microsoft," according to the website.

The hearing comes ahead of Tuesday's termination deadline for Microsoft's $69 billion acquisition of Activision, where parties can decide to walk, extend, or renegotiate the mega videogame deal.

The update comes after the CMA said on Wednesday that it "stands ready" to consider any proposals from Microsoft to restructure its deal in a way that assuages its concerns.

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