- The Federal Trade Commission is set to file a lawsuit seeking to block Microsoft’s proposed acquisition of Activision Blizzard, a person familiar with the matter told CNBC.
- The FTC had already sued to block the $68.7 billion acquisition, and chose to take the case before an internal administrative law judge.
- By applying for an injunction, the FTC is seeking to halt the acquisition before the July 18 deal deadline.
Federal Trade Commission Chair Lena Khan testifies during the House Energy and Commerce Subcommittee hearing on Innovation, Data and Trade on the “Federal Trade Commission Budget for Fiscal Year 2020” in the Rayburn Building on Tuesday, April 18, 2023.
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The Federal Trade Commission is scheduled to file for an injunction Monday that seeks to block Microsoft’s proposed acquisition of Activision Blizzard, a person familiar with the matter told CNBC.
By applying for an injunction, the FTC is seeking to halt the acquisition before the July 18 deal deadline.
The FTC had already sued to block the $68.7 billion acquisition, and chose to take the case before an internal administrative law judge. Through this court-like process, the administrative law judge makes a preliminary decision that can be appealed to the full panel to vote. After that, Microsoft can appeal to a federal court if it does not withdraw the decision. The case is scheduled to go before an administrative law judge in August.
that gravity The UK Competition and Markets Authority’s merger blocking decision is also due this summer, shortly after the takeover deadline.
“We welcome the opportunity to present our case in federal court,” said Brad Smith, President of Microsoft. “We believe that accelerating the legal process in the United States will ultimately provide more choice and competition in the marketplace.”
Share prices of Microsoft and Activision were nearly flat Monday afternoon.
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