Activision Blizzard and Microsoft The parties agreed to extend the acquisition deadline until the fall to resolve final regulatory issues.
The deadline to close the deal was originally set for yesterday, July 18, but changed after a meeting between the two companies.
Activision Blizzard stated in its financial report for the second quarter of 2023 that on July 18, the two companies reached an agreement to move the acquisition deadline to October 18.
The terms of the agreement include an increase in the termination fee payable to Activision Blizzard from $3 billion to $3.5 billion if the deal is terminated after August 29, and from $3 billion to $3.5 billion if the deal is terminated after September 15. $4.5 billion.
The parties agree that the transaction termination fee is not subject to any conditions other than failure to close.
The deal also includes amendments to Activision Blizzard’s commercial Xbox arrangement with Microsoft, worth up to $250 million in fiscal years 2023 and 2024.
Brad Smith, vice chairman and president of Microsoft, said: The delay will give Microsoft extra time Address final regulatory issues and continue to work with the CMA on issues raised by the UK.
Smith said the company was “confident” in its prospects of “closing this deal”.
