Written by Samah Labib Saturday, July 22, 2023 04:00 AM
The FTC is suspending an administrative challenge (PDF) that seeks to block Microsoft from buying Activision Blizzard. The FTC has taken a two-pronged approach against the $68.7 billion deal, bringing that case last December that was due to go before its own administrative judge on August 2nd.
The other part was its pursuit of a temporary restraining order and preliminary injunction that would have stopped Microsoft from closing its deal while the FTC’s administrative process continues.
A US federal judge denied the injunction request earlier this month, and an appeals court also denied her request for an emergency stay on the deal. However, the FTC is still appealing the initial denial of the injunction, according to theverge report.
Microsoft and Activision Blizzard have yet to complete the acquisition, and they recently announced an extension of their mutually agreed deadline to October 18th, and the FTC could re-file that administrative challenge, all while Microsoft continues to negotiate with the UK’s Capital Markets Authority, and as we indicated earlier this week there are signs things may not take long — Xbox chief Phil Spencer told staff that both companies “remain optimistic that we’ll get our acquisition on line.” the end.”
