[GameSpot] - Microsoft And Activision Extend Merger Deadline To October, "New Commercial Arrangements" Expected

[343iBot]

The July 18 deadline for Microsoft to close its deal to buy Activision Blizzard has come and gone, but both parties have now agreed to extend their deadline to October 18 under new terms.

The three-month extension comes amid the appeals process in the UK, which blocked the deal over concerns around the cloud gaming market.

Activision said in a note to press that the deadline with Microsoft was extended on the condition that Microsoft pay a higher termination fee if the deal doesn't happen and other "new commercial arrangements."

"The recent decision in the U.S. and approvals in 40 countries all validate that the deal is good for competition, players, and the future of gaming. Given global regulatory approvals and the companies’ confidence that CMA now recognizes there are remedies available to meet their concerns in the UK, the Activision Blizzard and Microsoft boards of directors have authorized the companies not to terminate the deal until after October 18," Activision said. "We're confident in our next steps and that our deal will quickly close."

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