• Mon. Jun 24th, 2024

Appeals court denies FTC request to stop $68.7 billion acquisition of Activision Blizzard

Bynewsmagzines

Jul 15, 2023
UK relaxes anti-competition concerns on Microsoft-Activision deal

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A federal appeals court denied a Federal Trade Commission request to stop the $68.7 billion Microsoft acquisition of Activision Blizzard today.

The denial could clear the way for the deal to close in the next few days.

A three-judge appeals court panel denied the motion for injunctive relief filed this week by the Federal Trade Commission, which sought to block the merge on antitrust grounds. There is still one more hurdle the companies face with the antitrust regulatory body in the United Kingdom.

But the U.S. agency was the biggest obstacle. The FTC can appeal to the U.S. Supreme Court, but the odds of the nation’s highest court intervening are pretty low. The deal is set to close on July 18. If it doesn’t Microsoft might have to pay a $3 billion penalty to Activision Blizzard.

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