The FTC has asked Microsoft for more info on its Activision Blizzard deal
The Federal Trade Commission (FTC) has asked Microsoft and Activision Blizzard for additional information as it continues to review their proposed acquisition deal.
According to a proxy filing published on Monday by Activision Blizzard (as spotted by Wccftech), “Activision Blizzard and Microsoft each received a request for additional information and documentary material […] from the FTC in connection with the FTC’s review of the transaction.”
The request isn’t necessarily an indication that there’s an issue with the proposed acquisition, or that the FTC is shaping up to try to block the deal in any way. Rather, it’s an expected step when reviewing a deal this large.
The main purpose of the proxy filing was to note that a special meeting of Activision Blizzard shareholders would be taking place on April 28.
If a majority of shareholders don’t vote to approve the acquisition during this meeting, it can’t be completed, and anyone who doesn’t vote will be counted as being ‘against’ it.
It was reported last month that the FTC would be handling the antitrust review for the acquisition, as opposed by the Justice Department, which typically works with the FTC on similar cases.
As originally reported by Bloomberg, the FTC will investigate the deal to determine whether the takeover of the publishing giant constitutes unfair competition, according to a person speaking to the organisation anonymously.
The Activision Blizzard acquisition means that Xbox will gain exclusive ownership of some of the industry’s biggest franchises including Call of Duty, Warcraft, Overwatch, Crash Bandicoot, Guitar Hero and more.
The deal is expected to close in Microsoft’s fiscal year 2023. However, this is subject to closing conditions and completion of
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