Microsoft and UK CMA have been given additional time by the Competition Appeal Tribunal (CAT) in order to resolve the Activision Blizzard acquisition deal issues.
Microsoft and the UK CMA Given More Time
More time has now been given to these two entities so that they could resolve their dispute over the game company’s upcoming merger. Both parties had made a joint submission to CAT to pause legal proceedings. Both want to reach an out of court agreement over the merger. During the case management conference today, CAT finally agreed to a two-month stay of the case.
New Deal Considered
The UK Competition and Markets Authority has now said that it would consider a modified deal that Microsoft will offer during the dealings according to Reuters in one of the reports.
CMA lawyer David Bailey told the tribunal, “Based upon the discussion to date, both sides – Microsoft and the CMA – have confidence that Microsoft notifying a restructured transaction is capable of addressing the concerns that the CMA has identified.”
Last week, UK CMA extended the deadline for its final decision on the Activision Blizzard deal by 6 weeks. Instead of July 18, it was pushed back to August 29, 2023. They done this so it could consider a fresh proposal from Microsoft.