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Machiavellian said:

I see why MS and Sony is not in the running. People forget but Sony is wrapping up that 3 Bn for Bungie and MS is wrapping up Bliz/Acti so neither probably at this time was interested in anything that could rock the boat on their purchases as well as the administrative effort it takes going through the whole process. It appears that Embracer was at the right moment with the right price at the right time, so they reap the rewards.

I don't think the Bungie deal can fall through in the same capacity that the Activision deal can. The more likely scenario is Sony thinks its not worth it.