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Activision Blizzard Inc. ATVI, +25.88% disclosed Wednesday the termination provisions of the $68.7 billion merger agreement with Microsoft Corp. MSFT, -2.43% , which include payment of up to $3 billion by Microsoft. The videogame maker said if the merger deal is terminated, including termination under antitrust concerns, if Activision isn’t in material breach of any provisions of the deal, Microsoft would pay a termination fee of $2.0 billion if the termination notice is provided before Jan. 18, 2023; pay $2.5 billion if provided after Jan. 18, 2023 but before April 18, 2023; and pay $3.0 billion if provided after April 18, 2023.
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