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The US Federal Trade Commission (FTC) filed an injunction earlier this week, in a renewed effort to temporarily block Microsoft's $69 billion bid for full ownership of the Activision Blizzard group. A judge has today granted the regulatory body's request. The court has issued a temporary restraining order—in which it states the legal measure "is necessary to maintain the status quo while the complaint is pending." The FTC proposes that the acquisition has the potential to "substantially lessen competition" within North America's gaming sector. Microsoft and Activision are required to attend a two-day hearing—scheduled for 22 June in San Francisco, California.
The FTC had previously penciled in an August 2 session with an internal administrative judge, following the expiration of Microsoft's proposed deadline (July 18) for the merger. A company spokesperson (commenting to Eurogamer) expressed that leadership was happy about the FTC's decision to bring proceedings forward in time: "Accelerating the legal process in the US will ultimately bring more choice and competition to the gaming market. A temporary restraining order makes sense until we can receive a decision from the Court, which is moving swiftly." The legal document outlines terms including the prevention of "any of their officers, directors, domestic or foreign agents, divisions, subsidiaries, affiliates, partnerships, or joint ventures from closing or consummating, directly or indirectly, the proposed transaction or a substantially similar transaction."
View at TechPowerUp Main Site | Source
The FTC had previously penciled in an August 2 session with an internal administrative judge, following the expiration of Microsoft's proposed deadline (July 18) for the merger. A company spokesperson (commenting to Eurogamer) expressed that leadership was happy about the FTC's decision to bring proceedings forward in time: "Accelerating the legal process in the US will ultimately bring more choice and competition to the gaming market. A temporary restraining order makes sense until we can receive a decision from the Court, which is moving swiftly." The legal document outlines terms including the prevention of "any of their officers, directors, domestic or foreign agents, divisions, subsidiaries, affiliates, partnerships, or joint ventures from closing or consummating, directly or indirectly, the proposed transaction or a substantially similar transaction."
View at TechPowerUp Main Site | Source
