Microsoft-Activision Blizzard ($69 Billion, 2023)

Microsoft's $69 billion acquisition of Activision Blizzard faced unprecedented global regulatory scrutiny, with the FTC, UK CMA, and EU authorities all intervening over gaming market concentration. The deal was delayed 20 months longer than the average tech acquisition, partly due to Bobby Kotick's workplace scandal baggage. With a price tag 40% less than the AOL-Time Warner merger adjusted for inflation, it became the most scrutinized tech acquisition in decades, ultimately closing only after Microsoft agreed to divest cloud gaming rights to Ubisoft.