An Activision Blizzard regulatory filing reveals that the U.S. Federal Trade Commission (FTC) has asked for more information about its proposed acquisition by Microsoft.
“On March 3, 2022, Activision Blizzard and Microsoft each received a request for additional information and documentary material (which we refer to as a ‘Second Request’) from the FTC in connection with the FTC’s review of the transaction,” an Activision Blizzard regulatory filing reveals. “The effect of the Second Request is to extend the waiting period … until the 30th day after substantial compliance by Activision Blizzard and Microsoft with the Second Request, unless the waiting period is terminated earlier by the FTC or as otherwise agreed between the parties and the FTC.
In January, Microsoft announced that it would acquire Activision Blizzard for $67.8 billion, creating the third-largest company in the videogame industry. Because of regulatory scrutiny, the companies don’t expect to consummate the deal quickly—the target date is the end of Microsoft’s fiscal year on June 30, 2023—but they likewise don’t expect this inquiry to push the date out any further.
In addition to the FTC, the acquisition is being examined by the U.S. Department of Justice (DOJ), the European Commission (EC), the UK Competition and Markets Authority, the China State Administration for Market Regulation, and other regulatory bodies.
Tagged with Activision Blizzard