Activision Deal Free to Go Forward as Appeals Courtroom Rejects FTC’s Final-Second “Pause” Request

It appears Microsoft’s $69 billion acquisition of Activision Blizzard seemingly is free to go forward, as a last-second request to delay the proceedings has been rejected by a federal appeals courtroom. Earlier this week, the U.S. Federal Commerce Fee’s try to dam the Activision Blizzard deal earlier than its July 18 deadline was firmly rejected. The FTC has since filed an enchantment, which can take a while to work its means by means of the authorized system. Within the meantime, the FTC filed an emergency movement with the Ninth Circuit Courtroom of Appeals to dam the deal earlier than the deadlines come due. Decide Jacqueline Scott Corley, who was the one who dominated in Microsoft’s favor earlier this week, already rejected an identical emergency movement.

Microsoft responded to the FTC’s emergency movement requestion in no unsure phrases, saying “the FTC’s claimed emergency is fully of its personal creation.” It appears Ninth Circuit Courtroom agrees, as they formally rejected the FTC’s request for “injunctive reduction” as of late Friday.

Which means that Microsoft is now free to shut the Activision Blizzard deal, with the FTC unlikely to have the ability to throw any extra roadblocks of their means. If Microsoft had not been capable of shut the deal by July 18 they’d have needed to pay Activision a $3 billion “breakup charge.” After all, there are nonetheless some authorized hurdles to move, as they nonetheless should comply with sure further modifications to get the deal previous the UK’s Competitors and Markets Authority. Microsoft will nonetheless face additional FTC hearings in August, however contemplating the drubbing they’ve already taken in courtroom, the case doesn’t look good.

Whereas the deadline for the Activision Blizzard deal is July 18, Microsoft can truly shut the deal at midnight tonight, following the expiration of a short lived restraining order handed down by Decide Corley. That mentioned, the deal isn’t more likely to shut till subsequent Monday or Tuesday.

After all, the authorized system works in unusual methods, so this isn’t over till it’s over. That mentioned, it looks like Microsoft goes to make this deal occur proper underneath the wire. You’ll be able to sustain with the newest happenings within the Activision Blizzard acquisition saga right here.

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Originally posted 2023-07-14 23:45:54.