ugh,. you guys found me.
If you hadn't noticed, this is Forum 2.0
Started by the-pi-guy, Feb 01, 2023, 05:14 PM
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What the heck lol.Yep.
Every single poster over there is mocking him right?
"
- Microsoft executives are actively looking at ways to close the acquisition despite a UK veto on the deal, MLex has learned.MS sounds extremely desperate to make this happen. Moreso than people were anticipating I think.
- The CMA currently has an interim order in place preventing Microsoft from acquiring "an interest in Activision or any of its subsidiaries." It is likely to make that permanent very soon.
- The surprise speed of the CAT appeal process may dampen any calls within the company for it to close the deal regardless of the UK block.
- "Our priority is pursuing the appeal process in the UK, and we remain committed to constructive dialogue and solutions to address regulatory concerns," a Microsoft spokesperson said today.
- Microsoft has hired extra lawyers and has tasked some with examining how it could close the Activision deal, MLex understands.
- One option could include Activision exiting the UK for another European country in a bid to remove itself from the CMA's jurisdiction. Its games could continue to be sold via a distributor. One rub is that any such decision must be taken by Activision to avoid breaching merger laws that stipulate that merging companies must be managed separately and independently until they actually close.
- Another option could see Microsoft extend remedies given to and accepted by the European Commission to the UK unilaterally, even though they were rejected as insufficient by the CMA.
- The company is also actively contesting the CMA's draft order that would give effect to its veto, banning Microsoft from acquiring an interest in Activision for several years, and vice versa. The ability of the UK watchdog to impose a global ban solely to address concerns relating to the UK market is at the center of that, MLex understands. Microsoft could challenge the final order in court to seek to narrow its scope, to potentially allow it to close elsewhere in the world.
- Alternatively, Microsoft could seek to close the transaction and argue that the order was illegal in its defense when sued by the CMA.
- In mid-May, a reporter for CNBC asked Microsoft chief executive Satya Nadella whether the company could close the deal and just stop selling Activision's products in the UK. The CEO responded: "Let's wait for it all to play out." Asked by MLex on May 12 whether it could close around the UK, a representative of Microsoft said it was a "complicated question," but "at some point we may need to think about it." A spokesperson from Microsoft advised against reading too much into the comments.
It sounds like MS is ready to close this no matter what
The next six weeks, until July 18th (the outside date in the merger agreement) could be a lot of fun :p
???? MICROSOFT’S PRESIDENT BRAD SMITH SET FOR TALKS WITH UK CHANCELLOR HUNT OVER ACTIVISION DEAL BAN- BLOOMBERG NEWS$ATVI $MSFT
— PiQ (@PriapusIQ) June 2, 2023
Smith is set to hold talks with Hunt as well as officials from the Competition and Markets Authority, the agency that wielded the April 26 veto, according to people familiar with the talks, who spoke on condition of anonymity.
| VizionEck Cube Royale is releasing this year "I'm Mike Armbrust" -Me | | |
Bloomberg reports that Microsoft President Brad Smith will meet with UK Chancellor Jeremy Hunt next week to vent his frustration at the CMA’s Activision Blizzard deal block. Microsoft also considering “extreme” option to withdraw Activision from the UK https://t.co/mMSZnf1VD3 pic.twitter.com/krFrjjok83
— Tom Warren (@tomwarren) June 2, 2023
How's the US case going? Would be crazy if they somehow get the CMA to work out yet fail in America.FTC process is a couple months away yet.
- August 2nd 2023: beginning of the FTC in-house trial.But that doesn't work the same way. They can close without FTC approval, but FTC can push to break it up after the fact.
- Early 2024: decision from the FTC administrative law judge.
- Early 2024: decision from CAT (if there was an appeal)
ritain's competition regulator is to be told to focus on boosting growth and easing the cost of living, amid concerns the watchdog may have been blocking deals that would help the economy.
Kemi Badenoch, Business Secretary, is preparing a "strategic steer" that will formally ask the Competition and Markets Authority (CMA) to promote "supply-side growth and investment" while protecting competition and ensuring lower prices for consumers.
Her department said: "Too often growth has not been given the priority by regulators that it needs and we are determined to change that."
The intervention comes after Jeremy Hunt, Chancellor, appeared to voice private frustrations with the CMA last month when asked about its decision to block Microsoft's $69 billion (£55bn) takeover of Activision, the video games giant behind Call of Duty.
He said: "One of the reasons that companies like Microsoft and Google want to invest in the UK is because we have independent regulators that aren't controlled by politicians," Mr Hunt told a business conference.
"I would not want to undermine that at all, but I do think it's important all our regulators understand their wider responsibilities for economic growth."
The CMA has also been criticised by ministers over its responsiveness to complaints and its internal focus on diversity schemes.
The Telegraph recently disclosed that the body had published internal guidelines encouraging staff to use 10 per cent of their working time taking part in groups and activities that promote "an inclusive culture and working environment in which everyone can thrive and bring their whole selves to work".
It is currently operating a "hybrid working model" under which staff are encouraged to spend up to 60 per cent of their time working from home.
One government source warned that strategic steers are not binding and may simply be ignored by the CMA. "They don't need to take any notice," the source said.
But a draft version of the document being drawn up stated that "the Government's overarching expectation is that the CMA should focus on achieving outcomes that help individual consumers and businesses to meet cost-of-living challenges, while also boosting sustainable growth and productivity, and maintaining and enhancing the UK's position as a leading global destination for investment".
'Smarter' approach to regulation
The document is described as setting out "how the CMA should approach its work", adding: "The CMA should have regard to this steer when it sets its strategy and when it makes decisions on where to focus and prioritise its finite resources."
The move comes as part of an attempt to take a "smarter" approach to regulation in order to grow the economy. In a paper setting out the approach, Mrs Badenoch's department said that Brexit was a "historic moment for this country, giving us for the first time in many decades the final say over the way we regulate".
It added: "We do not consider regulation to be a dirty word, but it must be used only where necessary and be implemented in a way that provides the right foundations for our economy to thrive."
The business department warned: "Each of us as consumers lose out when such regulation blocks innovation and competition, increases prices or lowers the quality and choice of goods and services available."
Our #UKTechPlan featured in @thetimes today ???? pic.twitter.com/T4HGEXXtvW
— techUK (@techUK) June 6, 2023
How's the US case going? Would be crazy if they somehow get the CMA to work out yet fail in America.https://www.cnbc.com/2023/06/12/ftc-files-to-block-microsoft-activision-blizzard-deal.html
The FTC on Monday filed a temporary restraining order and preliminary injunction seeking to block Microsoft's proposed acquisition of Activision Blizzard.
BREAKING: Microsoft has been temporarily restrained from buying Activision Blizzard, a judge rules. The FTC has secured a temporary restraining order that will last until the court rules on the preliminary injunction in a hearing starting June 22nd https://t.co/xsjGChpRIe pic.twitter.com/O4Le6rq25M
— Tom Warren (@tomwarren) June 14, 2023
MS is barred from acquiring Activision until the case is done.Important correction, but I believe this is just a barring until they decide if MS should be barred until the court case.
| VizionEck Cube Royale is releasing this year "I'm Mike Armbrust" -Me | | |
