Microsoft and Activision extend the deadline for their $68.7 billion merger to October 18th
are closer than ever to making their merger happen. However, with some issues still to smooth out in the UK, the companies weren't able to neatly tie things up in time for their initial July 18th deadline.
If they hadn't agreed on new terms and either side walked away , Microsoft would have been on the hook for a $3 billion breakup fee. That termination fee will increase to $3.5 billion if the merger hasn't closed by August 29th and $4.5 billion if it's not a done deal by September 15th. The fee will only be paid if the acquisition doesn't close. In addition, they agreed that Activision can give its shareholders a dividend of $0.99 per share.
"Microsoft and Activision Blizzard remain optimistic that we will get our acquisition over the finish line, so we have jointly agreed to extend the merger agreement to October 18th, 2023," Microsoft Gaming CEO Phil Spencer wrote in a note to employees."While we can technically close in the United States due to recent legal developments, this extension gives us additional time to resolve the remaining regulatory concerns in the UK.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Microsoft and a UK regulator have been granted more time to resolve Activision merger issues | EngadgetMicrosoft has been granted more time to resolve a UK regulator's concerns over its proposed $68.7 billion acquisition of Activision Blizzard.
Read more »
Microsoft and UK regulators win more time to resolve blocked $69 billion Activision dealMicrosoft and British regulators sought more time from a court Monday as the U.S. tech company uses a rare second chance to overcome opposition to its $69 billion bid for video game maker Activision Blizzard.
Read more »
Microsoft moves closer to completing $69 billion Activision takeover after court rebuffs regulatorsA U.S. appeals court on Friday rejected a bid by federal regulators to block Microsoft from closing its $68.7 billion deal to buy video game maker Activision Blizzard
Read more »
Microsoft agrees to keep Call of Duty on Sony Playstation after it buys Activision BlizzardCall of Duty has been at the center of a corporate tug-of-war between Microsoft’s Xbox and Sony’s PlayStation over Microsoft’s planned $69 billion purchase of Activision Blizzard.
Read more »
Warren Buffett cashes in monster bet on Microsoft buying ActivisionWarren Buffett cashed in his monster bet on Microsoft buying Activision Blizzard - but left some money on the table
Read more »