"Microsoft and Activision Blizzard Merger Faces Delays, FTC Stands Firm"

Microsoft and Activision Blizzard have agreed to extend their merger agreement until October 18th, pending negotiations with UK regulators. The extension allows ample time to address regulatory concerns and finalize the transaction. The termination fee has been increased to $3.5 billion if the deal doesn't close by August 29th. Microsoft is negotiating with the UK's Competition and Markets Authority (CMA) to address cloud gaming concerns and potentially sell off its rights to cloud gaming in the UK. The CMA has until Thursday to file relevant evidence for the tribunal judges to pause the appeal process.