Microsoft has submitted arguments to the CMA explaining why the $69 billion deal should be re-evaluated. The CMA has invited comments on the new version of Microsoft’s takeover until August 4.
Previously, the CMA blocked the deal in April, which is considered the largest gaming deal in history.
The CMA stated, “Microsoft has provided the CMA with a series of submissions about developments since the publication of the Report, including the acceptance by the European Commission of commitments offered by Microsoft and the agreement recently entered into between Microsoft and Sony. These submissions affirm that there have been significant changes since the Report or that there are special reasons to reach a different decision regarding the remedies question.”
Microsoft submitted its final and consolidated arguments on July 25. According to Reuters, a court involved in the case has already published Microsoft’s argument.
Recently, Sarah Cardell, the CEO of the CMA, mentioned that they will carefully consider the proposals put forward by Microsoft. She stated, “We understand that Microsoft would like to propose a restructuring of the deal, potentially re-notifying the deal to address our competition concerns. If they do that, we will thoroughly evaluate those restructured proposals.”
Microsoft’s 10-year agreements
Microsoft has already announced multi-year commitments with Sony and Nintendo to bring the Call of Duty game to their consoles. They have also partnered with Nvidia, Boosteroid, and Ubitus to stream the game on their cloud service.
In addition, Microsoft and Activision Blizzard have extended their merger agreement to October 18. Activision stated that the companies have agreed to increase the deal termination fee.
If the deal is not finalized by August 29, Activision will have to pay $3.5 billion to Microsoft, which is an increase from the earlier amount of $3 billion. Furthermore, if the deal is not closed before September 15 and Activision withdraws, they will owe $4.5 billion to Microsoft.
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