- Microsoft Corp (NASDAQ:MSFT) President Brad Smith prepared to convince EU antitrust regulators at a closed hearing that the $69 billion Activision Blizzard, Inc (NASDAQ:ATVI) deal will boost competition.
- Smith will lead a delegation of 18 senior executives, including Microsoft Gaming CEO Phil Spencer, while CEO Robert Kotick will represent Activision, Reuters reports.
- Microsoft was ready to address concerns with "Call of Duty" licensing offers similar to the 10-year deal with Nintendo Co, Ltd (OTC:NTDOF) (OTC:NTDOY) and regulatory undertakings.
- Sony Group Corp (NYSE:SONY), which opposed the deal, sent its gaming chief Jim Ryan.
- Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google and chip designer and computing firm Nvidia Corp (NASDAQ:NVDA), which has a gaming business, also participated in the hearing.
- The EU hearing, with dozens of lawyers, officials, and rivals, comes just two weeks after Britain's merger regulator provisionally found that the deal could substantially harm competition.
- Microsoft recently received the EU regulators' initial findings regarding the deal, Bloomberg reports.
- The U.K.'s Competition and Markets Authority suggested several structural remedies, including divesting the business associated with Call of Duty or blocking the merger altogether.
- In the U.S., the Federal Trade Commission is locked in a lengthy legal process after formally suing to veto the transaction.
- Microsoft has repeatedly said it has no plans to make Call of Duty exclusive.
- Spencer maintained that the company plans to seed its content across as many screens and systems as possible.
- Price Action: MSFT shares traded lower by 0.68% at $256.30 premarket on the last check Tuesday.
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