Microsoft Beats US Regulator FTC in Activision Blizzard Buyout Battle | Push Square
Update: In a rapidly developing update in this snowballing story, Microsoft president Brad Smith has revealed that his company have agreed to a “stay of litigation” with UK regulator, the CMA. An appeal hearing with the CAT had been scheduled to get underway on 28th July, but it sounds like the two parties will now return to the table in an attempt to hammer out some kind of compromise.
Smith said: “After today’s court decision in the US, our focus now turns back to the UK. While we ultimately disagree with the CMA's concerns, we are considering how the transaction might be modified in order to address those concerns in a way that is acceptable to the CMA.”
He added: “In order to prioritise work on these proposals, Microsoft and Activision have agreed with the CMA that a stay of the litigation in the UK would be in the public interest and the parties have made a joint submission to the Competition Appeal Tribunal to this effect.”
Original Article: The seemingly never-ending saga involving Microsoft’s proposed $69 billion buyout of Activision Blizzard has taken another twist today, as the trillion dollar titan has overcome US regulator the Federal Trade Commission in court, after the antitrust organisation had sought a preliminary injunction to prevent the acquisition from closing.
Over five days of testimony, Judge Jacqueline Scott Corley listened to arguments from both Microsoft and the FTC, and ultimately ruled in favour of allowing the Redmond firm to complete the deal ahead of its 18th July deadline. However, Microsoft still faces significant hurdles in the UK, where the Competition and Markets Authority has blocked the deal.
A statement from Judge Corley said:
Microsoft’s acquisition of Activision has been described
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