The Federal Trade Commission has sued to block Microsoft from completing its deal to buy video game company Activision Blizzard, the latest antitrust challenge to the proposed merger but one that could hasten a conclusion to the drawn-out dispute.
FILE - The Federal Trade Commission building, Jan. 28, 2015, in Washington. On Monday, June 12, 2023, the Federal Trade Commission sued to block Microsoft from completing its deal to buy video game company Activision Blizzard, the latest antitrust challenge to the proposed merger but one that could hasten its conclusion.
“We welcome the opportunity to present our case in federal court," said a statement Monday from Brad Smith, Microsoft's vice chair and president. “We believe accelerating the legal process in the U.S will ultimately bring more choice and competition to the market.” The contract between Microsoft and Activision says the deal is supposed to close by July 18, but the FTC's latest action seeks to stop that from happening. If Microsoft closes the deal now, and an FTC judge later finds that it was unlawful, it “would be difficult, if not impossible” to reverse course, the FTC said in asking a judge for a preliminary injunction halting the acquisition.
“Microsoft and Activision Blizzard have represented in the past that they cannot close their deal due to antitrust reviews of the transaction in other jurisdictions," the FTC said in a statement Monday."But Microsoft and Activision have not provided assurances that they will maintain that position.
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