Microsoft and Activision Blizzard Agree to Extend Merger Deadline to October 18, 2023

[Tsing]

Microsoft and Activision Blizzard have announced that they have agreed to extend their merger agreement deadline from July 18, 2023 to October 18, 2023 in order to resolve remaining regulatory concerns. This new agreement would imply that Microsoft has three additional months to finalize its acquisition of Activision Blizzard, but according to a list of new terms, the Windows maker will be paying an even higher termination fee of $3.5 billion in the event that the deal doesn't close by the end of August. A U.S. appeals court recently denied the FTC's second, and probably last, attempt to stop the acquisition.

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