FTC pulls emergency brake on Microsoft's marriage to Activision Blizzard
Moving quickly to avoid what it worries could be a surprise merger finalization announcement, the US Federal Trade Commission has sought a temporary restraining order to prevent Microsoft from completing its $69 billion acquisition of video game giant Activision Blizzard.
"Both a temporary restraining order and a preliminary injunction are necessary because Microsoft and Activision have represented that they may consummate the proposed acquisition at any time … without any further notice to the Commision," the FTC said in its complaint. The FTC believes Microsoft and Activision could be planning to act as soon as this Thursday, June 15, and asked the court to make its decision before then.
"In deciding whether to grant [this] relief, the Court must balance the likelihood of the Commission's ultimate success," the FTC said in its filing. So will it succeed? The Commission's lawyers think so. Ergo,"preliminary relief is warranted and necessary," the FTC concludes, because without it Microsoft may simply go ahead with the merger before the FTC makes its final decision. If the pair had already merged and the FTC decided to block the move,"reestablishing the status quo would be difficult, if not impossible."
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTC files restraining order to block Microsoft's Activision Blizzard dealThe US Federal Trade Commission has requested a temporary restraining order in an attempt to halt Microsoft's $69 billion acquisition of Activision Blizzard.
Read more »
FTC reportedly filing injunction to temporarily block Microsoft's Activision Blizzard dealUS antitrust agency the Federal Trade Commission is reportedly set to file an injunction with a federal court in an eff…
Read more »
FTC plans to ask court to block Microsoft-Activision Blizzard deal\n\t\t\tExclusive scoops\n\t\t\tSmart data to help spot risk and opportunity\n\t\t\tAnalysis of broader trends in M&A\n\t\t\tLex, our agenda-setting business commentary (Premium only)\n\t\t\tDue Diligence, an exclusive M&A newsletter (Premium only)\n\t\t
Read more »
The FTC is reportedly filing an injunction to block Microsoft’s Activision acquisition | VGCThe US Federal Trade Commission is reportedly filing an injunction seeking to block Microsoft’s acquisition of Activision Blizzard
Read more »
US moves to block Microsoft's Activision takeoverRegulators have asked a judge to block the proposed deal, arguing it could harm competition levels.
Read more »
Microsoft/Activision: devil of a fight leaves duo on horns of a dilemma\n\t\t\tLet our global subject matter experts broaden your perspective with timely insights and opinions you\n\t\t\tcan’t find anywhere else.\n\t\t
Read more »