We didn't have a lot of recaps for the first anniversary, but this one from CNBC was interesing:
This MSFT-ATVI Deal is an Effort By The FTC to Reset Merger Policy, Says Former Commissioner
It included a new interview with William Kovacic, former FTC Commissioner, about the case.
We also got a report from Benchmark (a research, sale, trading and investment banking firm) saying that the market is pricing in an 18% probability of deal success :s
On the other hand, I updated the next important dates (I mainly added the motion for the gamer's lawsuit):
- Late January 2023: Statement of objections from the EC.
- Late January /Early February 2023: Provisional findings and remedies (if required) from the CMA.
- February 3rd 2023: Decision from New Zealand.
- March 23rd 2023: Motion for a preliminary injunction on the gamers' lawsuit.
- April 11th 2023: Final decision from the EC.
- April 18th 2023: Second extension of the original outside date. If MS quits by that date they have to pay a termination fee of $2,500,000,000; if they don’t, the outside date gets extended until July 18th 2023.
- April 26th 2023: Final report and remedies (if required) from the CMA.
- April - May 2023: Decision from the SAMR in China.
- July 18th 2023: The end of the second extension and final outside date in the merger agreement. If MS quits by that date they have to pay a termination fee of $3,000,000,000; if they don’t, they’ll have to renegotiate the outside date with ABK.
- August 2nd 2023: Beginning of the FTC in-house trial.
- Early 2024: Decision from the FTC administrative law judge.
- Anything beyond that: Unknown
