US FTC asks court to block Microsoft acquisition of Activision
www.reuters.com
The Federal Trade Commission asked a court to temporarily block Microsoft Corp's acquisition of Activision Blizzard on Monday, seeking to halt the deal from closing before the government's case against the $69 billion deal is heard.

The U.S. Federal Trade Commission will file an injunction blocking Microsoft Corp’s (MSFT.O) acquisition of Activision Blizzard (ATVI.O), a source familiar with a planned court filing said on Monday.

  • Unkechaug@lemmy.mlEnglish
    0·
    1 year ago

    So the deal’s deadline is July 18th and Microsoft is posturing to go through with the deal and finalize “at any time”, because they don’t want the deal to expire and have to go through the process of making a new one. The reason for this injunction is because the trial to settle the FTC’s concerns begins August 2nd, and they don’t want Microsoft to claim victory just yet.

    The FTC is using the imminent nature of the deal, combined with recent sales success of Diablo 4 as reason to delay a judgment. Microsoft would prefer to get this done before having to go to trial.

    It doesn’t mean any decisions have been made about the deal itself yet. The FTC may still allow the merger to happen, though likely with concessions in favor of preserving competition.

    • Landrin201@lemmy.mlEnglish
      2·
      1 year ago

      I don’t understand how any possible concessions could “preserve competiton” in a case like this. We’re watching Microsoft try to build more monopolistic power by literally buying a competitor.