Microsoft vs FTC: US Court Rejects FTC's Request to Halt Takeover of Call of Duty Maker Activision Blizzard

gadgets.ndtv.com:

A US federal court on Thursday rejected the Federal Trade Commission's (FTC) request that it order Microsoft to temporarily hold off on closing its $69 billion (roughly Rs. 5,65,480 crore) purchase of Call of Duty maker Activision Blizzard, a court filing showed.

A federal judge had previously ruled for Microsoft on Tuesday, saying the agency had failed to show the deal would be illegal under antitrust law. The FTC appealed that loss late on Wednesday, and Microsoft said it would fight that appeal.

Earlier on Thursday, the FTC asked for an order preventing the deal from closing until after the 9th US Circuit Court of Appeals ruled on a separate stay request filed with that court.

Any outstanding regulatory hurdle makes it more likely the agreement between Microsoft and Activision will expire on July 18 without the deal having been completed. After July 18, either company will be free to walk away unless they negotiate an extension.

The FTC had asked for the court to decide on the pause as soon as possible, noting that an existing temporary restraining order on the deal was meant to end just before midnight on Friday.

"We're disappointed that the FTC is continuing to pursue what has become a demonstrably weak case, and we will oppose further efforts to delay the ability to move forward," Microsoft President Brad Smith said earlier in an emailed statement.

In its motion for the pause to Judge Jacqueline Scott Corley, the FTC argued her denial of a preliminary injunction to halt the deal "raises serious, substantial issues for the Court of Appeals to resolve."

"The FTC asks this Court to enjoin the merger at issue pending resolution of the FTC's appeal to the Ninth Circuit Court of Appeals. The motion is denied," the judge