Microsoft Acquisition of Activision Blizzard Could be Approved by FTC by Next Month - News
by William D'Angelo , posted on 18 July 2022 / 3,967 Views
Microsoft's proposed deal to acquire Activision Blizzard for $68.7 billion could be approved by the Federal Trade Commission (FTC) by next month.
Microsoft has now sent over the requested documents to the FTC and now the US government agency has 30 days to request for more information. If it doesn't request more details it will automatically approve of the operation, according to Real Mi Central.
Brad Smith, the Microsoft President and Vice Chair, in May said the Activision Blizzard acquisition is "moving fast" for how big the deal is and it is now entering the middle stages.
"It's moving fast, at least fast enough for an acquisition of this size," said Smith at the time. "We have received requests for information on this subject here in Brussels, but also in London and Washington. We answer questions, we give briefings and we provide the information requested."
Activision Blizzard shareholders have voted to approve Microsoft's acquisition of the gaming giant. More than 98 percent of the shares voted in favor of the acquisition at $95.00 per share.
The Communications Workers of America, the largest communications and media labor union in the United States, recently sent a letter to the FTC in support of Microsoft's acquisition of Activision Blizzard following a labor neutrality agreement with Microsoft.
Microsoft previously stated it expects the deal to close by June 30, 2023.
IPs that will be owned by Microsoft once the deal closes include Call of Duty, Warcraft, Candy Crush, Tony Hawk, Diablo, Overwatch, Spyro, Hearthstone, Guitar Hero, Crash Bandicoot, StarCraft, and more.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.