Microsoft and Activision extend deadline to close $69 billion deal under close regulatory scrutiny FOX13
Microsoft believes that pushing back the deadline to Oct. 18 will provide enough time to work through the remaining regulatory issues, said Brad Smith, the company's president.
That termination fee has been increased to $3.5 billion with the extension. If the deal does not close by Sept. 15, it will increase to $4.5 billion. Justice Elena Kagan rejected the emergency appeal without comment on Tuesday. Kagan handles emergency matters from California and other western states.The Competition and Markets Authority initially, but later pushed back its final decision so it can consider Microsoft’s argument that new developments mean its acquisition can go through.
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