Written by Sama Labib
Saturday, July 22, 2023 04:00 AM
The FTC suspends an administrative challenge (PDF) that seeks to block Microsoft’s purchase of Activision Blizzard, and the FTC has taken a two-pronged approach against the $68.7 billion deal, bringing the case before its own administrative judge on August 2 last December.
A temporary injunction and preliminary injunction were issued that would have stopped Microsoft from closing its deal while the FTC’s administrative process continued.
A US federal judge rejected the injunction earlier this month, and an appeals court rejected his request for an emergency injunction against the deal. However, the FTC is appealing the initial denial of the injunction, according to theverge report.
Microsoft and Activision have yet to complete the acquisition of Blizzard, and recently announced that they would extend a mutually agreed deadline to October 18, and the FTC may refile that administrative challenge, while Microsoft continues to negotiate with the UK’s Capital Markets Commission. Hopefully we’ll get our acquisition online.” Conclusion.”
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