FTC loses bid to block Microsoft Activision deal
Microsoft's acquisition of Activision Blizzard has been given the nod in the United States.
The Federal Trade Commission (FTC) has lost its bid to block the merger, with Judge Jacqueline Scott Corley ruling that the deal can go through. Microsoft was hoping to close the acquisition by July 18th as otherwise it would have to pay a fee to Activision Blizzard.
“Our merger will benefit consumers and workers," Kotick said.
"It will enable competition rather than allow entrenched market leaders to continue to dominate our rapidly growing industry.”
Microsoft's president, Brad Smith, added: "We’re grateful to the Court in San Francisco for this quick and thorough decision and hope other jurisdictions will continue working towards a timely resolution. As we’ve demonstrated consistently throughout this process, we are committed to working creatively and collaboratively to address regulatory concerns."
The deal is being blocked in the United Kingdom by the Competition and Markets Authority.
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