The Federal Trade Commission could appeal a judge’s rejection of its attempt to stop Microsoft and Activision Blizzard from consummating their $68.7 billion merger as early as Wednesday.
Microsoft-Activision decision
Following the FTC’s request for a preliminary injunction was denied by U.S. District Judge Jacqueline Scott Corley, Bloomberg was the first to announce that the organization was considering an appeal. The parties would not have been able to finalize their agreement until the FTC’s internal administrative proceeding concluded later this summer, after the deal’s deadline of July 18.
The insider, who was not allowed to publicly discuss internal conversations, claimed that the FTC has not made a final decision regarding appealing. But at 11:59 p.m. PT on Friday, the injunction that keeps Microsoft and Activision open will be lifted. The FTC chose not to respond.
Even if it appeals, until the court takes action, the agency will have to race against time to complete the sale. The U.K.’s Competition and Markets Authority continues to oppose the transaction, but following the U.S. court’s decision on Tuesday, the agency decided to halt the legal proceedings while it considers options to restructure the agreement that might allay its worries.
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In a previous statement, Microsoft Vice Chair and President Brad Smith stated they “hope other jurisdictions will continue working towards a timely resolution.” A Microsoft representative pointed CNBC to that remark. We are committed to using our creativity and teamwork to overcome regulatory issues, as we have constantly shown throughout this process.