Microsoft offers to make small divestiture to meet UK objections on Activision - CNBC
Rich Polk
Microsoft (NASDAQ:MSFT) is offering to make a small divestiture to meet the objections of the UK's antitrust regulator to its planned $69 billion Activision (NASDAQ:ATVI) deal.
Microsoft (MSFT) is offering a "small and discrete" divestiture to the UK's Competition and Markets Authority that it believes the regulator will accept, according to CNBC's David Faber, who cited sources. It's unclear what exactly the divestiture is. A deal could close as as soon as Monday, before a termination deadline for the mega deal.
Activision (ATVI) rose 11% to ~$92, nearing its $95/share takeover price for Activision (ATVI).
It was earlier reported that Microsoft (MSFT), and UK regulator have jointly asked the Competition Appeal Tribunal to pause litigation in the kingdom. That litigation was headed for a July 28 trial.
The CMA says it "stands ready" to consider any proposals from Microsoft to restructure its deal in a way that assuages its concerns, Bloomberg reported.
 âIn order to be able to prioritize work on these proposals, Microsoft and Activision have agreed with the CMA that a stay of litigation in the UK would be in the public interest and all parties have made a joint submission to the Competition Appeal Tribunal to this effect," a CMA spokesman told Bloomberg/
The UK news comes after a U.S. federal judge judge earlier Tuesday denied a preliminary injunction that the Federal Trade Commission was seeking to block the Activision (ATVI) deal. U.S. District Judge Jacqueline Scott Corley in San Francisco allowed the mega videogame deal to proceed. 
"Judge Corleyâs decision upon first reading is balanced, intelligent, correct, reasonable on the law and facts; it is respectful and doesn't `spike the football in some way that would be intolerable to the FTC," Chris DeMuth Jr, Partner of Rangeley Capital, said in an interview with Seeking Alpha. 
More on Activision/Microsoft

FTC Vs. Microsoft: FTC Wins
UK court filing may be positive for Microsoft deal for Activision - report
Microsoft - Activision Deal May Close After All
Activision Calls Could Pop But...
Activision Blizzard: Unlocking The Power Of Entertainment
Microsoft Troubles Open Activision Investors To An Attractive Opportunity
ATVI Could Be An Arbitrage Play With Or Without The Microsoft Deal