Many give theacquisition from Activision Blizzard from Microsoft as practically taken for granted. The mistake they commit is that of evaluating only the will of the two companies as decisive or of believing in the omnipotence of figures. “If they have decided to spend $ 68.7 billion they will know what they are doing“, we read very often among the commentators of the deal. Now, without going into too specific questions concerning joint-stock companies, which are very complex to understand in all their aspects (there are a lot of books on the subject), let’s look at a news today, apparently unrelated to our case, to understand why there is still nothing taken for granted. We are obviously talking about the acquisition of ARM by NVIDIA, which seems to have been skipped.
“The biggest challenge, however, was obtaining an approval for the acquisition: this is where the most important game was played and it would seem that NVIDIA has not been able to achieve the goal it had set itself.”
Apparently the highly underestimated organs antitrust, which for some seem to be almost a mere bureaucratic annoyance, to get out of the way as soon as possible, instead have the power to put a spoke in the wheel of similar affairs, making very specific and binding requests, on issues that those who watch these processes from ‘external can not even imagine, requests often contrary to what are the objectives of the buying company, to avoid not only creating monopolies, but also damage to competitors. Now, we still don’t know what happened between NVIDIA and ARM and we don’t know how the Microsoft / Activision Blizzard deal will proceed, which is completely different and will make history in itself. The only lesson we can draw from this whole story is that before pulling out the flags and starting to wave them it would be better to wait for the game to be won, otherwise you risk making the English figure in the last European football.
This is not to say that Microsoft does not know what it is doing and that the deal is sure to fail. Microsoft will have already spent millions of dollars preparing for the acquisition, relying on specialized law firms and the professionals necessary to streamline everything. He will also have studied the feasibility of the deal, trying to be as open as possible to the competition (see love message sent by Phil Spencer to Sony). That said, NVIDIA certainly did the same before launching into the ARM acquisition and we all saw how it turned out.