Probably since she can be cited as one of the reasons the deal fell through. That's a double whammy if MS contest the 3bn pay out and she already lost her payout.
Did you actually say ABK will extend for 3 months for FREE? Ah stop.
His point is a possibility though.
They decide that:
1)They can't afford to stay stucked for more than an other 3 months on this deal past July.
2)They know they won't agree on higher breakup fees or higher dollars/share prices.
Last chance, they settle for just a 3 months extension at current prices, just enough time for CAT to make a verdict, either a legal miracle happens and CAT not only does agree with them but a legal way is found to simply persuade CMA to reverse their judgement quickly after this verdict or the deal is dead.
This is a really unlikely outcome though because normal legislation has it that even if CAT completely quashes the CMA's logic the whole thing has to go back to CMA and there's no reason they should abandon their decision without an other investigation which would obviously shift the timeframe in 2024.
Also the FTC is an other piece of the puzzle, they could end up filing an injunction at the right moment to delay things considerably even if they end up losing in court, so if we're talking about closing the deal in really strict timeframes I don't think that FTC can be completely dismissed.
So without too many words, the next big event is to understand which kind of new deal Microsoft and Activision reach by the end of July to get an idea about how serious they are about continuing their legal battle and what they actually think of their chances.