Activision Blizzard Inc (NASDAQ:ATVI) (Activision Blizzard Inc (NASDAQ:ATVI)) investors will have to wait at least another eight weeks to get the British judgement on Microsoft's takeover.
The UK's Competition and Markets Authority (CMA) today extended the deadline of the inquiry into the transaction until 26 April, giving the government more time to complete a report.
“The Inquiry Group had to regard the scope and complexity of the investigation and the need to consider a large volume of evidence as well as main party and third-party submissions” said Martin Coleman, the Inquiry Group chair.
The proposed US$69bln deal, the largest in tech history, faced strong criticism from rivals like Sony which claimed the deal would create an unfair advantage.
Microsoft offered both Nintendo and Sony a ten-year deal for Call of Duty, one of Activision’s largest franchises.
In the US, the federal trade commission voted to block the acquisition amid fears the tech giant would use it “to harm competition”.
Reports claim no “substantive” agreement between Microsoft and the FTC has been made.
Activision Blizzard’s share price is valued at US$77.2 up 21% in the past year.
Microsoft stocks have dropped by over 10% since the FTC blocked its merger, now trading at US$221.