Microsoft is reportedly requesting an extension for the agreed deadline of its $69 billion acquisition deal with videogame maker Activision Blizzard. With the final stages of the deal approaching, Microsoft aims to avoid any potential disruptions at the last minute.
According to Reuters, Microsoft (ticker: MSFT) is looking to extend the acquisition contract with Activision (ATVI). The current contract is set to expire on Tuesday, and if it does, either company would have the option to back out of the deal.
Both Microsoft and Activision Blizzard have not yet responded to requests for comment from ‘.s early on Tuesday.
In premarket trading on Tuesday, Activision shares dipped 0.3% to $92.92, just below the acquisition price of $95 per share. Meanwhile, Microsoft shares experienced a slight decline of 0.2%.
Fortunately, the extension is unlikely to disrupt the deal as both companies are collaborating to overcome any remaining obstacles to its completion. Over the weekend, Microsoft announced that it had signed a binding agreement to ensure that the Call of Duty franchise remains available on Sony’s (SONY) PlayStation consoles after Activision’s acquisition. This move appeased one of the primary opponents to the deal within the videogame industry.
The details of that submission have not been disclosed publicly. Bloomberg has reported that in order to address the CMA’s concerns, Microsoft and Activision may consider relinquishing some control over their U.K. cloud-gaming business and potentially selling cloud-based market rights to another company.