(FILES) In this file photo taken on March 02, 2022 a Microsoft logo is displayed at the MWC (Mobile World Congress) in Barcelona. (Photo by Josep LAGO / AFP)
Microsoft Corp. and Activision Blizzard Inc. - the video-game empire it’s seeking to take over in a $69 billion deal - are edging closer to completing one of the biggest acquisitions of all time.
Over the weekend, Microsoft struck a deal with Sony Group Corp., arguably the staunchest opponent to the takeover, to ensure Activision’s popular Call of Duty franchise remains on Sony’s PlayStation platform for a decade. Two days earlier, a US court cleared another roadblock when it denied a request by the US Federal Trade Commission to put the acquisition on hold.
The companies are working to assuage fears about what the merger of one of the industry’s biggest console makers and one of the biggest gamemakers would mean for rivals. The FTC’s defeat last week leaves only the UK’s Competition & Markets Authority, which, after vetoing the deal in April, has decided to give Microsoft a second chance to offer a remedy.
On Monday, UK judges at London’s Competition Appeal Tribunal are to consider whether Microsoft’s proposed restructuring of the biggest gaming deal offers a way to sidestep the UK’s veto decision.
Activision gained 4% before New York exchanges opened on Monday from its previous close of $90.07. Microsoft was little changed after closing at $345.24 on Friday.
