Microsoft's landmark acquisition of Activision Blizzard hit a dead end last month when UK's CMA blocked it. But, according to the reports, there's some good news on the horizon, as the European Union is set to give its approval to the deal.
The merger, valued at a staggering $69 billion, is a significant deal for gaming. Regardless of how it ends, it will transform the gaming industry if it already hasn't. However, if it's indeed approved by the EU, then expect to see a significant leap forward in the merger process.
The EU consent represents a critical step in the buyout. The union's regulatory body has the authority to block and modify transactions that it deems harmful to competition within the European Economic Area. However, it appears that Microsoft and Activision Blizzard have successfully navigated these potential hurdles. The exact date of the approval announcement hasn't been confirmed yet but it's expected to come out next week.
For Microsoft, the deal with Activision Blizzard represents a major opportunity to expand the Xbox gaming platform.