2023-06-14 04:36:53
This Monday, the US Federal Trade Commission (FTC) filed requests for a temporary restraining order and preliminary injunction once morest the deal. Microsoft with Activision Blizzard. And, apparently, the first request was granted.
The temporary restraining order has officially put the Microsoft-Activision Blizzard deal on hold. It will remain in effect until the court rules on the FTC’s request for a preliminary injunction.
The latter may be ordered by the court before or during the proceedings, and it obliges the parties to refrain from taking certain actions until a final decision is made. In fact, this is the second temporary ban, which should slow down the transaction until the completion of a full-fledged FTC lawsuit once morest the merger. Hearings are scheduled for June 22 and 23.
Recall that Microsoft’s proposed acquisition of Activision Blizzard has already been approved in most markets, including the European Union. FTC and British regulator CMA continue to oppose the deal in court, and two appeals have already been filed once morest the latter’s decision.
The deadline for completing the Microsoft and Activision Blizzard deal is July 18. If it is not renewed, then Microsoft will have to pay compensation to its failed partner in the amount of $ 3 billion.
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