Merger Arbitrage Tool

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  Target Announced Date Acquirer Deal
Type
Closing
Value
Deal
Price
Last
Price
Target
Volume
Options Div. Yield Estimated
Closing Date
Return Annualized
Return
SAVE chart 7/28/22 JetBlue Airways Corporation (JBLU) Cash $7.6 B $31.00 $21.29 423,675 Yes N/A 6/30/24 45.61% 28.95%

The following funds have a position in Spirit Airlines, Inc.:

Fund # Shares Owned % of Portfolio % Change
Magnetar Financial Llc 4,249,778 1.11% 271.81%
Tig Advisors, Llc 1,233,447 0.84% 147.53%
Ubs Oconnor Llc 100,000 (Put) 0.0041% New
Pentwater Capital Management Lp 100,000 (Put) 0.02% New
Gabelli Funds Llc 96,050 0.01% 102%
Alpine Global Management, Llc 60,000 0.36% Exited
Harvest Management Llc 30,000 (Put) 0.83% Exited
Pentwater Capital Management Lp 30,000 0.00632% New
Harvest Management Llc 20,000 0.55% Exited
Spirit Airlines, Inc. merger details:

Expected to close in the first half of 2024 for a closing value of $7.6 billion. Upon completion of the deal, shareholders of Spirit Airlines will receive $33.50 per share in cash, including a prepayment of $2.50 per share in cash payable upon Spirit stockholders’ approval of the transaction and a ticking fee of $0.10 per month starting in January 2023 through closing.

Merger Agreement

Spirit Airlines, Inc. Investor Relations

JetBlue Airways Corporation Investor Relations

Termination Fee

Breakup Fee: $94.2 million

Update(s)

August 12, 2022: JetBlue (JBLU) and Spirit (SAVE) filed a Premerger Notification and Report Form under the HSR Act with the Antitrust Division and the FTC in connection with the merger contemplated by the merger agreement on August 12, 2022.

September 12, 2022: Spirit Airlines (SAVE) announced that the special meeting of stockholders will be on October 19, 2022.

September 16, 2022: Senator Elizabeth Warren urged federal airline regulators to block JetBlue Airways’s (JBLU) proposed merger with Spirit Airlines (SAVE) by invoking a rarely used authority from the 1950s to argue that the deal isn’t “consistent with the public interest.”

September 27, 2022: According to Reuters, the U.S. Justice Department urged a judge to force American Airlines (AAL) and JetBlue Airways (JBLU) to scrap their U.S. Northeast partnership because it would mean higher prices for consumers.

September 29, 2022: According to The Wall Street Journal, John Kirby, Spirit’s (SAVE) vice president of network planning, testified in federal court in Boston that the alliance between American Airlines Group  (AAL) and JetBlue Airways (JBLU) in the Northeast could eventually expand, and could inspire other large airlines to try to strike their own partnership deals, limiting competition in an already consolidated industry.

September 30, 2022: An NYSE notice indicated that shareholders of Spirit Airlines (SAVE) of record on September 12 would be the only holders able to get a $2.50/share special dividend as part of the original agreement with JetBlue Airways Corporation (JBLU) from late July.

October 6, 2022: Spirit Airlines (SAVE) announced that independent proxy advisory firms Institutional Shareholder Services and Glass, Lewis have recommended that Spirit stockholders vote FOR the merger agreement with JetBlue Airways Corporation (JBLU).

October 19, 2022: Spirit Airlines (SAVE) announced that its stockholders approved the merger agreement with JetBlue Airways Corporation (JBLU).

FSTX chart 6/23/22 invoX Pharma (N/A) Cash $161 M $7.12 $5.62 151,306 Yes N/A 12/31/22 26.69% 347.93%

The following funds have a position in F-star Therapeutics, Inc.:

Fund # Shares Owned % of Portfolio % Change
Gabelli Funds Llc 192,373 0.00812% 13.95%
F-star Therapeutics, Inc. merger details:

Expected to close in the second half of 2022 for a closing value of $161 million. Upon completion of the deal, shareholders of F-star Therapeutics will receive $7.12 per share in cash.

Merger Agreement

F-star Therapeutics, Inc. Investor Relations

Termination Fee

Company Termination Fee: $7.25 million

Update(s)

September 15, 2022: In mid-August, the ISU under the NSIA (National Security and Investment Act) issued a call-in notice to F-star Therapeutics (FSTX) and invoX Pharma, resulting in an additional review period of thirty (30) working days, which may be further extended. CFIUS informed F-star Therapeutics that its review of the transaction will continue for an additional forty-five (45) calendar days, which may be further extended. The companies extended the offer expiration date to November 1, 2022, in order to allow additional time to obtain required regulatory approvals.

September 29, 2022: The United Kingdom’s Investment Security Unit informed F-star Therapeutics (FSTX) and invoX Pharma that its investigation was complete and that the parties were cleared to proceed with the proposed transaction under the UK’s National Security and Investment Act (“NSIA”). 

November 1, 2022: Pursuant to a request by CFIUS, on October 31, 2022, F-star Therapeutics (FSTX) and invoX Pharma voluntarily withdrew and immediately refiled the Notice in order to provide CFIUS with more time to complete its assessment. CFIUS’s acceptance of the refiled voluntary Notice is effective as of November 1, 2022. CFIUS will have a review period of up to 45 calendar days, subject to a further 45 calendar days if extended. 

November 20, 2022: F-star Therapeutics (FSTX) and Sino Biopharmaceutical Limited amended their merger agreement by extending the end date from November 19, 2022, to December 19, 2022. The parties are in discussions with the Committee on Foreign Investment in the United States (CFIUS) regarding the transaction and have extended the end date to provide for additional time to satisfy the Foreign Investment Condition with respect to CFIUS.

ATVI chart 1/18/22 Microsoft Corporation (MSFT) Cash $68.7 B $95.00 $75.76 5,849,235 Yes 0.62% 6/30/23 25.40% 44.35%

The following funds have a position in Activision Blizzard, Inc.:

Fund # Shares Owned % of Portfolio % Change
Pentwater Capital Management Lp 7,945,000 6.61% -10.98%
Pentwater Capital Management Lp 8,845,500 (Put) 7.36% New
Pentwater Capital Management Lp 7,345,400 (Put) 6.72% Exited
Sculptor Capital Lp 4,552,525 4.21% 107.82%
Tig Advisors, Llc 3,226,601 8.73% 26.48%
Magnetar Financial Llc 850,567 0.88% -35.09%
Sand Grove Capital Management Llp 1,012,082 7.23% -10.35%
P Schoenfeld Asset Management Lp 600,000 2.48% New
Gabelli Funds Llc 581,532 0.36% 3.33%
Tig Advisors, Llc 573,300 (Call) 1.55% New
Alpine Global Management, Llc 239,999 4.17% -40.29%
Cheyne Capital Management (uk) Llp 116,101 18.46% 87.26%
P Schoenfeld Asset Management Lp 100,000 (Put) 0.41% New
Tudor Investment Corp Et Al 76,657 0.12% 142.15%
Jet Capital Investors L P 75,000 1.16% New
Harvest Management Llc 55,000 3.3% 7.84%
Harvest Management Llc 10,000 (Put) 0.6% -61.24%
Twin Capital Management Inc 14,253 0.14% -0.13%
Activision Blizzard, Inc. merger details:

Expected to close in fiscal year 2023 for a closing value of $68.7 billion. Upon completion of the deal, shareholders of Activision Blizzard will receive $95.00 per share in cash.

Merger Agreement

Activision Blizzard, Inc. Investor Relations

Microsoft Corporation Investor Relations

Termination Fee:

Company Termination Fee (To be paid by Activision Blizzard): $2.27 billion

Parent Termination Fee (To be paid by Microsoft)

i) if termination notice is provided prior to January 18, 2023: $2 billion

ii) if termination notice is provided after January 18, 2023, and prior to April 18, 2023: $2.5 billion

iii) if termination notice is provided at any time after April 18, 2023: $3 billion

Update(s)

January 31, 2022: According to Bloomberg, The U.S. antitrust review of Microsoft Corp's (MSFT) proposed acquisition of Activision Blizzard (ATVI) will be handled by the Federal Trade Commission (FTC).

March 3, 2022: Activision Blizzard (ATVI) and Microsoft (MSFT) each received a request for additional information and documentary material (“Second Request”) from the FTC in connection with the FTC’s review of the transaction. The effect of the Second Request is to extend the waiting period imposed under the HSR Act until the 30th day after substantial compliance by Activision Blizzard and Microsoft with the Second Request, unless the waiting period is terminated earlier by the FTC or as otherwise agreed between the parties and the FTC. Completion of the transaction remains subject to the termination or expiration of the waiting period under the HSR Act and the satisfaction or waiver of the closing conditions specified in the merger agreement. The parties expect to complete the transaction in Microsoft’s fiscal year ending June 30, 2023.

March 8, 2022: According to The Wall Street Journal, Federal prosecutors and securities regulators are investigating large bets that Barry Diller, Alexander von Furstenberg and David Geffen made on Activision Blizzard (ATVI) shares in January, days before the videogame maker agreed to be acquired by Microsoft (MSFT).

March 21, 2022: Activision Blizzard (ATVI) announced that the special meeting of stockholders, to consider and vote on a proposal to adopt the Agreement and Plan of Merger with Microsoft Corporation (MSFT), will be held on April 28, 2022.

March 31, 2022: According to The Wall Street Journal, four U.S. senators sent a letter to the Federal Trade Commission citing concern about Microsoft’s (MSFT) proposed acquisition of Activision Blizzard (ATVI), saying the deal could undermine employees’ calls for accountability over alleged misconduct at the videogame company.

April 14, 2022: SOC Investment, an activist shareholder group urged investors to vote against the proposed Activision Blizzard (ATVI) and Microsoft (MSFT) merger during Activision’s upcoming meeting on April 28.

April 28, 2022: Activision Blizzard (ATVI) announced that its stockholders approved Microsoft Corporation’s (MSFT) proposal to acquire Activision Blizzard.

July 6, 2022: Bloomberg reported that the UK competition regulator has opened an investigation into Microsoft’s (MSFT) purchase of Activision Blizzard (ATVI) joining other regulators in scrutinizing the deal.

September 1, 2022: The UK's Competition and Markets Authority said that it's concerned that Microsoft’s (MSFT) anticipated purchase of Activision Blizzard (ATVI) could "substantially lessen competition in gaming consoles, multi-game subscription services, and cloud gaming services (game streaming)."

September 1, 2022: Activision Blizzard (ATVI) CEO Bobby Kotick, sent a letter to all ATVI employees stating that they have entered the second phase of our review in the United Kingdom, and they will continue to fully cooperate with the regulators there, and everywhere approvals are required.

September 8, 2022: The Australian Competition & Consumer Commission delayed its decision on Microsoft's (MSFT) planned purchase of  Activision (ATVI). Activision CEO Bobby Kotick told employees in a letter, that he still expects the deal to close in Microsoft's fiscal year ending in June 2023.

September 15, 2022: According to Reuters, Microsoft's (MSFT) deal to buy Activision Blizzard (ATVI) is expected to face an in-depth UK probe after the software maker did not offer any remedies to assuage competition concerns.

September 22, 2022: Microsoft (MSFT) Chief Executive Officer Satya Nadella said he’s confident the company can gain regulatory approval for its purchase of Activision Blizzard (ATVI)  even in the face of an in-depth regulatory probe in the UK.

September 30, 2022: Microsoft (MSFTfiled its planned $69 billion purchase of Activision (ATVI) with the European antitrust authority. The authority set a provisional deadline of November 8, 2022, to make a decision on the transaction.

September 30, 2022: The Wall Street Journal reported that Frances F. Townsend, the Chief Compliance Officer of Activision Blizzard (ATVI) will be stepping down from her position.

October 4, 2022: The UK's antitrust regulator set a deadline of March 1 to decide on Microsoft's (MSFT) planned $69 billion acquisition of Activision (ATVI).

October 5, 2022: Brazil's antitrust regulator CADE approved Microsoft's (MSFT) takeover of Activision (ATVI).

October 6, 2022: Activision Blizzard (ATVI) announced that Lulu Cheng Meservey will assume a newly created role as Executive Vice President, Corporate Affairs and Chief Communications Officer. She will serve as Activision Blizzard’s public voice at a pivotal time ahead of the impending acquisition by Microsoft.

October 6, 2022: According to Reuters, EU antitrust regulators are asking games developers whether Microsoft (MSFT) will be incentivized to block rivals' access to Activision Blizzard's (ATVI) best-selling games.

October 12, 2022: According to Reuters, Microsoft (MSFT) said Britain's competition regulator had relied on objections from its rival Sony in referring its Activision Blizzard (ATVI) deal to an in-depth inquiry, in particular "misplaced" concerns about 'Call of Duty'.

November 9, 2022: The European Commission has opened an in-depth investigation to assess the proposed acquisition of Activision Blizzard (ATVI) by Microsoft (MSFT) under the EU Merger Regulation.

November 18, 2022: The EU Commission disclosed that it has extended its deadline for a decision on Microsoft's (MSFT) proposed acquisition of Activision Blizzard (ATVI) to 11 April, 2023.

According to Reuters, the U.S. Federal Trade Commission (FTC) is likely to file an antitrust lawsuit to block Microsoft's takeover bid for Activision Blizzard.

November 23, 2022: According to Reuters, the U.S. Federal Trade Commission (FTC) is likely to file an antitrust lawsuit to block Microsoft's (MSFT) takeover bid for Activision Blizzard (ATVI).

 

 

Note: Premium members can sort this table by Target, Return, Annualized Return and Estimated Closing Date. Desktop Version

  Target Estimated
Closing Date
Return Annualized
Return
SAVE chart 6/30/24 45.61% 28.95%

The following funds have a position in Spirit Airlines, Inc.:

Fund # Shares Owned % of Portfolio % Change
Magnetar Financial Llc 4,249,778 1.11% 271.81%
Tig Advisors, Llc 1,233,447 0.84% 147.53%
Ubs Oconnor Llc 100,000 (Put) 0.0041% New
Pentwater Capital Management Lp 100,000 (Put) 0.02% New
Gabelli Funds Llc 96,050 0.01% 102%
Alpine Global Management, Llc 60,000 0.36% Exited
Harvest Management Llc 30,000 (Put) 0.83% Exited
Pentwater Capital Management Lp 30,000 0.00632% New
Harvest Management Llc 20,000 0.55% Exited
Spirit Airlines, Inc. merger details:

Expected to close in the first half of 2024 for a closing value of $7.6 billion. Upon completion of the deal, shareholders of Spirit Airlines will receive $33.50 per share in cash, including a prepayment of $2.50 per share in cash payable upon Spirit stockholders’ approval of the transaction and a ticking fee of $0.10 per month starting in January 2023 through closing.

Merger Agreement

Spirit Airlines, Inc. Investor Relations

JetBlue Airways Corporation Investor Relations

Termination Fee

Breakup Fee: $94.2 million

Update(s)

August 12, 2022: JetBlue (JBLU) and Spirit (SAVE) filed a Premerger Notification and Report Form under the HSR Act with the Antitrust Division and the FTC in connection with the merger contemplated by the merger agreement on August 12, 2022.

September 12, 2022: Spirit Airlines (SAVE) announced that the special meeting of stockholders will be on October 19, 2022.

September 16, 2022: Senator Elizabeth Warren urged federal airline regulators to block JetBlue Airways’s (JBLU) proposed merger with Spirit Airlines (SAVE) by invoking a rarely used authority from the 1950s to argue that the deal isn’t “consistent with the public interest.”

September 27, 2022: According to Reuters, the U.S. Justice Department urged a judge to force American Airlines (AAL) and JetBlue Airways (JBLU) to scrap their U.S. Northeast partnership because it would mean higher prices for consumers.

September 29, 2022: According to The Wall Street Journal, John Kirby, Spirit’s (SAVE) vice president of network planning, testified in federal court in Boston that the alliance between American Airlines Group  (AAL) and JetBlue Airways (JBLU) in the Northeast could eventually expand, and could inspire other large airlines to try to strike their own partnership deals, limiting competition in an already consolidated industry.

September 30, 2022: An NYSE notice indicated that shareholders of Spirit Airlines (SAVE) of record on September 12 would be the only holders able to get a $2.50/share special dividend as part of the original agreement with JetBlue Airways Corporation (JBLU) from late July.

October 6, 2022: Spirit Airlines (SAVE) announced that independent proxy advisory firms Institutional Shareholder Services and Glass, Lewis have recommended that Spirit stockholders vote FOR the merger agreement with JetBlue Airways Corporation (JBLU).

October 19, 2022: Spirit Airlines (SAVE) announced that its stockholders approved the merger agreement with JetBlue Airways Corporation (JBLU).

FSTX chart 12/31/22 26.69% 347.93%

The following funds have a position in F-star Therapeutics, Inc.:

Fund # Shares Owned % of Portfolio % Change
Gabelli Funds Llc 192,373 0.00812% 13.95%
F-star Therapeutics, Inc. merger details:

Expected to close in the second half of 2022 for a closing value of $161 million. Upon completion of the deal, shareholders of F-star Therapeutics will receive $7.12 per share in cash.

Merger Agreement

F-star Therapeutics, Inc. Investor Relations

Termination Fee

Company Termination Fee: $7.25 million

Update(s)

September 15, 2022: In mid-August, the ISU under the NSIA (National Security and Investment Act) issued a call-in notice to F-star Therapeutics (FSTX) and invoX Pharma, resulting in an additional review period of thirty (30) working days, which may be further extended. CFIUS informed F-star Therapeutics that its review of the transaction will continue for an additional forty-five (45) calendar days, which may be further extended. The companies extended the offer expiration date to November 1, 2022, in order to allow additional time to obtain required regulatory approvals.

September 29, 2022: The United Kingdom’s Investment Security Unit informed F-star Therapeutics (FSTX) and invoX Pharma that its investigation was complete and that the parties were cleared to proceed with the proposed transaction under the UK’s National Security and Investment Act (“NSIA”). 

November 1, 2022: Pursuant to a request by CFIUS, on October 31, 2022, F-star Therapeutics (FSTX) and invoX Pharma voluntarily withdrew and immediately refiled the Notice in order to provide CFIUS with more time to complete its assessment. CFIUS’s acceptance of the refiled voluntary Notice is effective as of November 1, 2022. CFIUS will have a review period of up to 45 calendar days, subject to a further 45 calendar days if extended. 

November 20, 2022: F-star Therapeutics (FSTX) and Sino Biopharmaceutical Limited amended their merger agreement by extending the end date from November 19, 2022, to December 19, 2022. The parties are in discussions with the Committee on Foreign Investment in the United States (CFIUS) regarding the transaction and have extended the end date to provide for additional time to satisfy the Foreign Investment Condition with respect to CFIUS.

ATVI chart 6/30/23 25.40% 44.35%

The following funds have a position in Activision Blizzard, Inc.:

Fund # Shares Owned % of Portfolio % Change
Pentwater Capital Management Lp 7,945,000 6.61% -10.98%
Pentwater Capital Management Lp 8,845,500 (Put) 7.36% New
Pentwater Capital Management Lp 7,345,400 (Put) 6.72% Exited
Sculptor Capital Lp 4,552,525 4.21% 107.82%
Tig Advisors, Llc 3,226,601 8.73% 26.48%
Magnetar Financial Llc 850,567 0.88% -35.09%
Sand Grove Capital Management Llp 1,012,082 7.23% -10.35%
P Schoenfeld Asset Management Lp 600,000 2.48% New
Gabelli Funds Llc 581,532 0.36% 3.33%
Tig Advisors, Llc 573,300 (Call) 1.55% New
Alpine Global Management, Llc 239,999 4.17% -40.29%
Cheyne Capital Management (uk) Llp 116,101 18.46% 87.26%
P Schoenfeld Asset Management Lp 100,000 (Put) 0.41% New
Tudor Investment Corp Et Al 76,657 0.12% 142.15%
Jet Capital Investors L P 75,000 1.16% New
Harvest Management Llc 55,000 3.3% 7.84%
Harvest Management Llc 10,000 (Put) 0.6% -61.24%
Twin Capital Management Inc 14,253 0.14% -0.13%
Activision Blizzard, Inc. merger details:

Expected to close in fiscal year 2023 for a closing value of $68.7 billion. Upon completion of the deal, shareholders of Activision Blizzard will receive $95.00 per share in cash.

Merger Agreement

Activision Blizzard, Inc. Investor Relations

Microsoft Corporation Investor Relations

Termination Fee:

Company Termination Fee (To be paid by Activision Blizzard): $2.27 billion

Parent Termination Fee (To be paid by Microsoft)

i) if termination notice is provided prior to January 18, 2023: $2 billion

ii) if termination notice is provided after January 18, 2023, and prior to April 18, 2023: $2.5 billion

iii) if termination notice is provided at any time after April 18, 2023: $3 billion

Update(s)

January 31, 2022: According to Bloomberg, The U.S. antitrust review of Microsoft Corp's (MSFT) proposed acquisition of Activision Blizzard (ATVI) will be handled by the Federal Trade Commission (FTC).

March 3, 2022: Activision Blizzard (ATVI) and Microsoft (MSFT) each received a request for additional information and documentary material (“Second Request”) from the FTC in connection with the FTC’s review of the transaction. The effect of the Second Request is to extend the waiting period imposed under the HSR Act until the 30th day after substantial compliance by Activision Blizzard and Microsoft with the Second Request, unless the waiting period is terminated earlier by the FTC or as otherwise agreed between the parties and the FTC. Completion of the transaction remains subject to the termination or expiration of the waiting period under the HSR Act and the satisfaction or waiver of the closing conditions specified in the merger agreement. The parties expect to complete the transaction in Microsoft’s fiscal year ending June 30, 2023.

March 8, 2022: According to The Wall Street Journal, Federal prosecutors and securities regulators are investigating large bets that Barry Diller, Alexander von Furstenberg and David Geffen made on Activision Blizzard (ATVI) shares in January, days before the videogame maker agreed to be acquired by Microsoft (MSFT).

March 21, 2022: Activision Blizzard (ATVI) announced that the special meeting of stockholders, to consider and vote on a proposal to adopt the Agreement and Plan of Merger with Microsoft Corporation (MSFT), will be held on April 28, 2022.

March 31, 2022: According to The Wall Street Journal, four U.S. senators sent a letter to the Federal Trade Commission citing concern about Microsoft’s (MSFT) proposed acquisition of Activision Blizzard (ATVI), saying the deal could undermine employees’ calls for accountability over alleged misconduct at the videogame company.

April 14, 2022: SOC Investment, an activist shareholder group urged investors to vote against the proposed Activision Blizzard (ATVI) and Microsoft (MSFT) merger during Activision’s upcoming meeting on April 28.

April 28, 2022: Activision Blizzard (ATVI) announced that its stockholders approved Microsoft Corporation’s (MSFT) proposal to acquire Activision Blizzard.

July 6, 2022: Bloomberg reported that the UK competition regulator has opened an investigation into Microsoft’s (MSFT) purchase of Activision Blizzard (ATVI) joining other regulators in scrutinizing the deal.

September 1, 2022: The UK's Competition and Markets Authority said that it's concerned that Microsoft’s (MSFT) anticipated purchase of Activision Blizzard (ATVI) could "substantially lessen competition in gaming consoles, multi-game subscription services, and cloud gaming services (game streaming)."

September 1, 2022: Activision Blizzard (ATVI) CEO Bobby Kotick, sent a letter to all ATVI employees stating that they have entered the second phase of our review in the United Kingdom, and they will continue to fully cooperate with the regulators there, and everywhere approvals are required.

September 8, 2022: The Australian Competition & Consumer Commission delayed its decision on Microsoft's (MSFT) planned purchase of  Activision (ATVI). Activision CEO Bobby Kotick told employees in a letter, that he still expects the deal to close in Microsoft's fiscal year ending in June 2023.

September 15, 2022: According to Reuters, Microsoft's (MSFT) deal to buy Activision Blizzard (ATVI) is expected to face an in-depth UK probe after the software maker did not offer any remedies to assuage competition concerns.

September 22, 2022: Microsoft (MSFT) Chief Executive Officer Satya Nadella said he’s confident the company can gain regulatory approval for its purchase of Activision Blizzard (ATVI)  even in the face of an in-depth regulatory probe in the UK.

September 30, 2022: Microsoft (MSFTfiled its planned $69 billion purchase of Activision (ATVI) with the European antitrust authority. The authority set a provisional deadline of November 8, 2022, to make a decision on the transaction.

September 30, 2022: The Wall Street Journal reported that Frances F. Townsend, the Chief Compliance Officer of Activision Blizzard (ATVI) will be stepping down from her position.

October 4, 2022: The UK's antitrust regulator set a deadline of March 1 to decide on Microsoft's (MSFT) planned $69 billion acquisition of Activision (ATVI).

October 5, 2022: Brazil's antitrust regulator CADE approved Microsoft's (MSFT) takeover of Activision (ATVI).

October 6, 2022: Activision Blizzard (ATVI) announced that Lulu Cheng Meservey will assume a newly created role as Executive Vice President, Corporate Affairs and Chief Communications Officer. She will serve as Activision Blizzard’s public voice at a pivotal time ahead of the impending acquisition by Microsoft.

October 6, 2022: According to Reuters, EU antitrust regulators are asking games developers whether Microsoft (MSFT) will be incentivized to block rivals' access to Activision Blizzard's (ATVI) best-selling games.

October 12, 2022: According to Reuters, Microsoft (MSFT) said Britain's competition regulator had relied on objections from its rival Sony in referring its Activision Blizzard (ATVI) deal to an in-depth inquiry, in particular "misplaced" concerns about 'Call of Duty'.

November 9, 2022: The European Commission has opened an in-depth investigation to assess the proposed acquisition of Activision Blizzard (ATVI) by Microsoft (MSFT) under the EU Merger Regulation.

November 18, 2022: The EU Commission disclosed that it has extended its deadline for a decision on Microsoft's (MSFT) proposed acquisition of Activision Blizzard (ATVI) to 11 April, 2023.

According to Reuters, the U.S. Federal Trade Commission (FTC) is likely to file an antitrust lawsuit to block Microsoft's takeover bid for Activision Blizzard.

November 23, 2022: According to Reuters, the U.S. Federal Trade Commission (FTC) is likely to file an antitrust lawsuit to block Microsoft's (MSFT) takeover bid for Activision Blizzard (ATVI).

 

 

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