We attempt to answer the burning questions that remain as the biggest deal in the industry's history seemingly nears completion in the US.
We racked our collective GI brain for another topic for This Week In Business. We tried, we really did. But there's no escaping it. The thing that must be discussed (yet again) is Microsoft's proposed acquisition of Activision Blizzard.
Before you reach for that little 'x' that closes the tab, let's make this as painless as possible with the use of the time-honoured Q&A format and more than a smattering of analysts' insights.
Where do we stand with the Microsoft-Activision deal?
On the off-chance you somehow missed the news this week (if so, have we ever told you we have a daily newsletter?), here's what happened:
- On Tuesday, US District Court Judge Jacqueline Scott Corley denied the Federal Trade Commission a preliminary injunction against Microsoft's acquisition of Activision Blizzard.
- This means the two companies are allowed to complete the transaction in the US ahead of the deal's July 18 deadline, and before the FTC's administrative hearing against the merger in August (hence the Commission seeking that injunction).
- Immediately after, Microsoft and the Competition Markets Authority (the UK regulator blocking the deal) announced the former was drawing up new proposals to address any remaining concerns about the deal, requesting a pause on the appeals process due to begin on July 24.
- On Wednesday, The FTC filed an appeal against the District Court's decision, hoping to fare better with the Ninth Circuit Court of Appeals.
- Yesterday, Judge Corley rejected the FTC's appeal to extend the temporary restraining order against the deal (which expires at 11.59pm Pacific Time tonight) while its appeal is handled by the Ninth Circuit, Bloomberg reported.
- On the same day, Nasdaq announced it will remove Activision Blizzard from its indexes before markets open on Monday, July 17 because it's "highly probable" the acquisition will go through.
Yup. It's been quite the week.
