Microsoft has filed a formal merger proposal in Europe concerning its desired buyout of Activision-Blizzard's shares.
Regulators around the globe are currently scrutinizing Microsoft's proposed acquisition of Activision-Blizzard. The deal is valued at $68.7 billion and is the largest in gaming history by a long shot; it's over 5 times more valuable than Take-Two's recent acquisition of Zynga for $12.7 billion.
Microsoft corporate executives are confident the deal with will go through despite Sony's direct and public opposition. The billion-dollar tech firm has filed its merger proposal with worldwide markets including the United States and now Europe. Microsoft's merger proposal has been officially filed in the European Commission's competition database and has been assigned a provisional deadline of November 8, 2022.
This means that regulators have until November 8 to either make a decision or extend the timeframe to collect more information, data, and testimonials, advice, and general feedback from major industry players.
Sources have told the Financial Times that the European Commission would be extra thorough with Microsoft's merger proposal (and rightly so considering it does have massive implications for the video games industry as a whole).
The UK/s Competition for Markets Authority (CMA), which is separate from the European Commission, is also closely inspecting the deal. The CMA has moved the merger to a phase 2 request following skepticism and pushback against the deal, alleging that Call of Duty's exclusivity could disrupt competition.