Activision and Microsoft extend a $69 billion deal until October 18

July 19 (Reuters) – Activision Blizzard said on Wednesday it had extended until October 18 the closing date of a $69 billion deal with Microsoft that promises to be the biggest acquisition in the gaming sector’s history as the companies need more time to get UK antitrust approval for the purchase.

According to the Call of Duty video game maker, the companies have also agreed to a $3.5 billion increase from $3 billion in breach of contract compensation if it is not closed by August 29. After September 15, the amount of compensation will increase to USD 4.5 billion.

The extension will give firms more time to seek a regulatory solution in the UK, where the regulator first blocked the deal and then pushed back the decision until August 29. It is the only major jurisdiction preventing the closure of the largest takeover in the gambling sector.

The UK regulator has suggested it may reconsider its objections after a US court approves the Activision acquisition.

The original message in English is available under the code:

(Chavi Mehta and Yuvraj Malik in Bangalore)