12:21:55 EST Thu 07 Dec 2023
Enter Symbol
or Name

Microsoft CDR (CAD Hedged)
Symbol MSFT
Shares Issued 10,300,000
Close 2023-09-22 C$ 23.54
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Globe says Microsoft's move on Activision gaining steam

2023-09-25 08:12 ET - In the News

The Globe and Mail reports in its Saturday, Sept. 23, edition that Microsoft's restructured $69-billion (U.S.) acquisition of Activision Blizzard "opens the door" to the biggest-ever gaming deal being cleared, Britain's antitrust regulator said on Friday. An unblyined item in The Globe reports that Microsoft announced the deal in early 2022, but it was blocked in April by Britain's competition regulator. In August, Activision agreed to sell its streaming rights to Ubisoft Entertainment in a new attempt to win over the Competition and Markets Authority (CMA). The CMA said on Friday that the Ubisoft divestment "substantially addresses previous concerns." The CMA said, "While the CMA has identified limited residual concerns with the new deal, Microsoft has put forward remedies which the CMA has provisionally concluded should address these issues." Microsoft said it was "encouraged by this positive development in the CMA's review process." Microsoft president Brad Smith said, "We presented solutions that we believe fully address the CMA's remaining concerns related to cloud game streaming, and we will continue to work toward earning approval to close prior to the Oct. 18 deadline."

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