Microsoft / Activision Blizzard merger inquiry
Summary
A Competition and Markets Authority (CMA) case page on the anticipated acquisition by Microsoft Corporation of Activision Blizzard, Inc., opened 6 July 2022 and closed 20 November 2023 with the outcome 'Mergers - phase 2 prohibition'. It lists the referral for an in-depth investigation on 15 September 2022, provisional findings of competition concerns on 8 February 2023, an addendum of 24 March 2023 finding no substantial lessening of competition in console gaming, the final report of 26 April 2023, and the Microsoft and Activision Merger Inquiry Order 2023 of 22 August 2023. On 13 October 2023 the CMA granted consent for Microsoft to acquire Activision excluding its non-EEA cloud streaming rights, which it reviewed as a separate merger.
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Microsoft / Activision Blizzard merger inquiry The CMA investigated the anticipated acquisition by Microsoft Corporation of Activision Blizzard, Inc. Updates to this page From: Competition and Markets Authority Published: 6 July 2022 Last updated: 13 October 2023 Show all updates 13 October 2023 CMA granted consent under paragraph 12 of the Microsoft and Activision Merger Inquiry Order 2023. 22 September 2023 Update to merger inquiry 25 August 2023 Full decision text published 22 August 2023 Final order and final decision on material change of circumstances / special reasons published. 31 July 2023 Notice inviting comments and Microsoft submission published 13 July 2023 Notice of extension published. 19 May 2023 Notice of intention to make a final order, draft final order, and draft explanatory note published. 11 May 2023 Interim order published. 26 April 2023 Full text, appendices and glossary published 26 April 2023 Final report overview and summary of final report published. 6 April 2023 Responses to addendum provisional findings published. 5 April 2023 Admin timetable updated. 24 March 2023 Addendum provisional findings and Notice of addendum provisional findings published 21 March 2023 Microsoft’s supplemented response to the notice of provisional findings published. 16 March 2023 Responses to the provisional findings published 8 March 2023 Responses to possible remedies published 16 February 2023 Summary of third party calls published. 8 February 2023 Full provisional findings and appendices published. 8 February 2023 Summary of provisional findings, notice of provisional findings and notice of possible remedies published 5 January 2023 Updated administrative timetable and notice of extension published. 21 December 2022 Summary of responses to the issues statement from members of the public published. 12 December 2022 Market participant response to the issues statement published. 23 November 2022 Parties responses published. 18 October 2022 Response to phase 1 decision published. 14 October 2022 Issues statement published. 12 October 2022 Full text of phase 1 decision published. 4 October 2022 Administrative timetable published. 15 September 2022 Inquiry group appointment published. 15 September 2022 Decision to refer and Terms of reference published 1 September 2022 Summary of phase 1 decision published. 6 July 2022 First published. Case type: Mergers Case state: Closed Market sector: Electronics Outcome: Mergers - phase 2 prohibition Opened: 6 July 2022 Closed: 20 November 2023 Phase 2 Administrative timetable Date of referral | 15 September 2022 Statutory deadline | 26 April 2023 Contact general.enquiries@cma.gov.uk Microsoft / Activision Blizzard (ex-cloud streaming rights) merger inquiry 22 August 2023: Microsoft and Activision Blizzard notified to the CMA an acquisition by which Microsoft will acquire Activision, excluding Activision’s cloud streaming rights outside of the European Economic Area. The CMA considered this as a separate merger investigation . 22 September 2023: The CMA consulted on Microsoft’s request under paragraph 12 of the Microsoft and Activision Merger Inquiry Order 2023 for consent to acquire Activision, excluding Activision’s non-EEA cloud streaming rights. 13 October 2023: The CMA decided to grant consent under paragraph 12 of the Microsoft and Activision Merger Inquiry Order 2023 for Microsoft to acquire Activision, excluding Activision’s non-EEA cloud streaming rights. See Microsoft / Activision Blizzard (ex-cloud streaming rights) merger inquiry for more information . Final Order 22 August 2023: The CMA gives notice of the making of ‘The Microsoft and Activision Merger Inquiry Order 2023’. On the making of this Order the reference is finally determined. Final decision on change of circumstances/special reasons Consideration of possible material change of circumstances/special reasons Notice of extension of statutory period to make an order 14 July 2023: The Inquiry Group has decided to extend by six weeks under section 41A(2) of the Act the period for the discharge of its duty under section 41(2) of the Act, as it considers that there are special reasons to do so. The revised period will therefore end on 29 August 2023. Notice of intention to make a final order 19 May 2023: The CMA gives notice of the intention to make a final order. Interim Order 5 May 2023: The CMA served an interim order under section 81 of the Enterprise Act 2002 on Microsoft Corporation, Activision Blizzard, Inc, and their interconnected bodies corporate. Final report 26 April 2023: The CMA has published its final report. Evidence The publication of the evidence of any party on the CMA’s webpages does not indicate in any way endorsement by the CMA of the views expressed in the evidence or acceptance of that evidence. Publication in this way is designed to assist public understanding of the issues. Responses to addendum provisional findings Addendum provisional findings 24 March 2023: The provisional findings addendum outlines the Group’s revisions to the provisional SLC finding in the provisional findings report in relation to console gaming in the UK. The CMA has provisionally concluded that the anticipated acquisition by Microsoft Corporation of Activision Blizzard, Inc. will not result in a substantial lessening of competition in relation to console gaming in the UK. Responses to provisional findings Responses to possible remedies Summary of third party calls Provisional findings 8 February 2023: The CMA has provisionally found competition concerns as part of its in-depth investigation of the anticipated acquisition by Microsoft Corporation of Activision Blizzard, Inc. Notice of extension of statutory period Responses to the issues statement Issues statement 14 October 2022: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. Inquiry group appointed 15 September 2022: The CMA has appointed the inquiry group: Martin Coleman (Chair) , John Thanassoulis , Humphrey Battcock and Ashleye Gunn. Terms of reference 15 September 2022: The CMA has referred the anticipated acquisition by Microsoft Corporation of Activision Blizzard, Inc. for an in-depth investigation. Phase 1 Statutory timetable Phase 1 date | Action 1 September 2022 | Decision announced 6 July 2022 to 20 July 2022 | Invitation to comment 6 July 2022 | Launch of merger inquiry Response to phase 1 decision Reference decision 15 September 2022: The CMA has referred the anticipated acquisition by Microsoft Corporation of Activision Blizzard, Inc. for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this Merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. Reference unless undertakings accepted 1 September 2022: The CMA has decided, on the information currently available to it, that it is or may be the case that this Merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This Merger will be referred for an in-depth investigation unless the parties offer acceptable undertakings to address these competition concerns. Launch of merger inquiry 6 July 2022: The CMA announced the launch of its merger inquiry by notice to the parties. Invitation to comment: closed 6 July 2022: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services. To assist it with this assessment, the CMA invites comments on the transaction from any interested party. These comments should be provided by the deadline set out above. Contents
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