In a mesh of government approvals and denials, the Federal Trade Commission or FTC in the United States plans to file an injunction against the Microsoft Activision-Blizzard acquisition, according to reports.
According to recent reports by CNBC, the FTC would try to block the Microsoft acquisition of gaming titans Activision Blizzard, in another step in a long litany of news for the ongoing acquisition of the global company. According to the report, insiders claim that the FTC is seeking to file an injunction in the hopes of stopping the acquisition from going through before the July 18 deadline.
On May 15, 2023, the E.U. approved the merger in direct opposition to the ruling by the U.K.’s Competition and Markets Authority or CMA. China also approved the deal shortly after the E.U.’s final decision. The FTC case, on the other hand, is still ongoing in the United States.
According to CNBC estimates, the case could go before the administrative law judge in August. President of Microsoft, Brad Smith, said:
We welcome the opportunity to present our case in federal court. We believe accelerating the legal process in the U.S will ultimately bring more choice and competition to the market.
Anonymous insiders provided information on the planned injunction, according to the reporting. What this means for the acquisition is yet to be seen, but as the $68.7 billion purchase looms, Microsoft seems to be pushing full steam ahead.
We’ll be sure to keep up with this story in our news section.