When the UK’s Competition and Markets Authority (CMA) decided to take a stand against Activision’s $68.7 billion acquisition of Blizzard King in the UK, Microsoft immediately responded by appealing.
The new hearing begins on July 28 and the CMA has called for the hearing to be adjourned until October. But the Competition Appellate Tribunal in England disagreed, as it now stands They decided to stop This and blocked the CMA’s attempt to adjourn the hearing. CAT states as follows:
“This matter is significant and a huge amount of material for any new adviser to digest, but we expect that a month will allow enough time for that to happen – especially given the available support if the CMA selects an adviser with the appropriate presence to prepare. The question answers itself from within the CMA and from its existing advisory board.” : This committee shall have sufficient time to ensure that the CMA’s defense to the application is properly conducted.”
That means the new hearing will start at the end of next month, regardless of whether the CMA has had a chance to prepare a concrete case or not. It will decide whether the UK approves the mega-merger or continues to block it.
Do you think the end result will reverse or stay the same?
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