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Xbox and Activision: The CMA unanimously rejected the request in a new attempt to extend the acquisition

Xbox and Activision: The CMA unanimously rejected the request in a new attempt to extend the acquisition

The body that rates corporate takeovers in the UK, CMAYet another defeat in another attempt to extend Microsoft’s lawsuit, perhaps Overcoming fatigue. Thus, your request to postpone the hearing with the CAT until October was denied, and everything remained as agreed at the end of last month.

The CMA claims it was very difficult to find a lawyer to defend itself against Microsoft next month, but CAT (the body responsible for hearing appeals and deciding whether the CMA’s decision is valid) refused to do so. consensusThat is, the three judges did not accept it. It was claimed that as of April 26, Microsoft had already announced that they would appeal, and they had plenty of time to hire this attorney. In addition, Microsoft also filed its appeal within four weeks, while, in fairness, the CMA will also have a similar deadline.

All the CMA wants is to create a situation in which to be Microsoft and Activision failed to extend the agreement long enough to await the CAT’s appeal decision. The court has scheduled the appeal hearing for late July and early August in order to be able to hear the matter before October.

The court also made it clear that starting in October, it will be very difficult to make a quick decision. The three-member team was headed by the President of CATribunal, Mr. Judge Marcus Smith, not only rejected the motion but also rejected it He made it clear that the position of the Capital Markets Authority is unacceptable. The decision indicates that the CMA knew full well that the merger block would resume on April 26. Remember, Microsoft and Activision only have four weeks to file their appeals.

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The Capital Markets Authority had been pressing for a delay since the appeal began. This was his last attempt and it failed miserably. One could read between the lines of the CAT’s decision that the committee had fully explored CMA’s motives and found them appalling. CAT is doing everything they can to keep the UK open for business, but some are trying to shut it down!

Words from the court itself:

“we think that CMA did not pay enough attention In the real public interest in this case, which is Quick decision Microsoft case.

The CMA has not attempted to explore ways to ease the burden, either with Microsoft or the court. It’s disappointing That such a dialogue did not take place in this case.

Thus, the CAT hearing is still scheduled for the end of next month, and we suspect Microsoft will wait until then, even with a possible win over the FTC next week.