Activision Blizzard, Microsoft Extend Deal to Oct. 18

By Ben Glickman

Microsoft and Activision Blizzaard extended their merger agreement to Oct. 18, giving the companies more time to clear regulatory hurdles.

Activision said Wednesday that the companies' merger agreement had been extended in exchange for a higher termination fee. Microsoft will pay Activision between $3 billion and $3.5 billion if the acquisition is terminated after Aug. 29, and up to $4.5 billion if the deal is terminated after Sept. 15.

The Santa Monica, Calif.-based video game studio said the extended merger deal allows the company to pay up to 99 cents a share in dividends prior to the closing of the deal. The board of the company declared that dividend Tuesday, the company said, payable to shareholders as of Aug. 2.

The extended arrangement also changes Activision's commercial arrangement with Microsoft.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

July 19, 2023 09:03 ET (13:03 GMT)

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