Microsoft And Activision Try To Canvass UK Antitrust Watchdog About $69B Deal After EU Opposition - Microsoft (NASDAQ:MSFT)

Microsoft Corp MSFT and Activision Blizzard Inc ATVI met the U.K.’s antitrust watchdog this week to alleviate antitrust concerns regarding the $69 billion deal.
Lawyers for Microsoft attended a private hearing with the Competition and Markets Authority in London on Monday to discuss the regulator’s provisional findings and assess the feasibility of proposed remedies, Bloomberg reports.
The CMA, on February 8, initially ruled that the merger could result in higher prices, fewer choices, and less innovation for U.K. gamers.
It suggested several alternatives, including divesting the best-selling Call of Duty game or blocking the deal altogether.
The agency said it would consider other remedies to safeguard rivals’ access to the blockbuster shooter game.
The London meetings followed a close-door meeting with EU and senior executives and lawyers from Microsoft and Activision in Brussels last week.
Microsoft agreed to pay a third-party monitor to oversee their compliance.
Activision Blizzard separately met with the CMA on Wednesday on the proposals.
A further hearing with Sony Group Corp SONY, the primary opponent to the deal, is scheduled for next week.
Lately, Microsoft cut deals with Nintendo Co Ltd NTDOY NTDOF and Nvidia Corp NVDA to share Call of Duty with their platforms to reduce opposition to the deal.
The CMA will publish its final decision on the merger on April 26.
The EU extended the deal review deadline to April 25.
The U.S. Federal Trade Commission is locked in a lengthy legal process after suing to veto the transaction.
Price Action: MSFT shares traded higher by 0.37% at $247.17 on the last check Thursday.

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