UK Regulator to Refer Microsoft's Activision Blizzard Deal for Further Probe -- Update
15 September 2022 - 10:29PM
Dow Jones News
By Kyle Morris and Ian Walker
The U.K.'s Competition and Markets Authority said Thursday that
it is referring Microsoft Corp.'s $75 billion acquisition of
Activision Blizzard Inc. for a further in-depth investigation after
the U.S. company refused to offer any undertakings to satisfy the
CMA's concerns over the deal.
The regulator--which started its initial review into the deal in
July--said that it was informed on Sept. 6 by Microsoft that it
wouldn't be offering any undertakings.
On Sept. 1 the U.K. regulator said that Microsoft's planned
acquisition of Activision Blizzard could harm their rivals and
newcomers to the videogame industry, adding uncertainty to the deal
in one of the world's largest markets for interactive
entertainment.
The Competition and Markets Authority started its investigation
into the acquisition in July to determine whether it could lessen
competition in the U.K. On Sept. 1, the regulator said it would
give the companies five working days to offer commitments to
address the competition concerns it flagged.
On Jan. 18, Microsoft agreed to buy Activision Blizzard Inc. in
an all-cash deal.
Write to Kyle Morris at kyle.morris@dowjones.com and Ian Walker
at ian.walker@wsj.com
(END) Dow Jones Newswires
September 15, 2022 08:14 ET (12:14 GMT)
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