Microsoft Pushes to Get Activision Done With Fresh UK Offer (3)

Microsoft Corp.’s $69 billion Activision Blizzard Inc. acquisition got a new chance at winning approval from UK regulators after the tech giant submitted a substantially different deal to the country’s antitrust watchdog.

In a rare move, the Competition and Markets Authority will open a new probe after Microsoft said it would give French video-game publisher Ubisoft Entertainment SA cloud-streaming rights for Activision games, potentially easing concerns over its potential to control the nascent but fast-growing market. The CMA has set a new deadline of Oct. 18 for an initial ruling.

The CMA’s reversal follows a series of dramatic twists ...