UK orders phase 2 probe of Microsoft's Activision Blizzard purchase
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The UK's antitrust watchdog has confirmed it's taking a deeper look at Microsoft's (NASDAQ:MSFT) proposed $69B acquisition of Activision Blizzard (NASDAQ:ATVI), after Microsoft failed to assuage concerns about potential anticompetitive effects.
The Competition and Markets Authority on Thursday referred the deal for a phase 2 probe and named an inquiry group to conduct the in-depth investigation.

The CMA had earlier expressed concern about the acquisition and gave the companies until Sept. 8 to bring remedies to its concerns that the transaction could end up hurting competition if Microsoft withheld access to Activision's market-leading games.
Microsoft's confidence in the deal's winning approval is reflected in a $3B break-up fee it agreed to pay in case the transaction fell through.
The deal is also likely headed for review with the European Commission in Brussels in coming weeks. Microsoft elected not to offer remedies to the UK's CMA, the Financial Times said, based on the belief that there was nothing the CMA would likely accept.