Deal gets more expensive: Microsoft and Activision Blizzard agree to extend merger clearance deadlines and increase compensation for the protracted process

Xbox head Phil Spencer has revealed that Microsoft and Activision Blizzard have agreed to extend the deadline for the deal to be inked until 18 October 2023.

Here's What We Know

The corporation is being forced to take extra time to resolve the CMA issue, which remained the only hurdle before signing the biggest deal in the gaming industry.

As UK regulators are conducting further investigation, they have delayed their decision until 29 August. Microsoft is expected to make some concessions that will affect the cloud market.

Microsoft president Brad Smith said that his corporation has reached a consensus with Activision Blizzard to increase compensation for the delayed process.

So, if the deal is not formalised by 29 August, the amount of payments will be $3.5 billion, if the case drags on until 15 September, the amount of compensation will increase to $4.5 billion.