The FTC has asked for a 'temporary restraining order' to halt Microsoft's acquisition of Activision Blizzard:
block Microsoft's proposed takeover of Activision Blizzard
, with the regulator claiming that if the deal were to go ahead, it could stifle competition in the industry. A hearing for that case, which will be brought before an FTC administrative law judge, is set for August, after the deal's July 18 deadline.Now, the FTC is worried that Microsoft and Activision Blizzard could close out the deal before the regulator's hearing in August and has filed a temporary restraining order with US courts to temporarily halt the two companies.
"In light of that, and public reporting that Microsoft and Activision Blizzard are considering closing their deal imminently, we have filed a request for a temporary restraining order to prevent them from closing while review continues." Microsoft president Brad Smith said that the FTC's decision to file a restraining order should accelerate the acquisition process."Today’s action by the FTC to file suit in our Activision case in federal court should accelerate the decision-making process," Smith said."This benefits everyone. We always prefer constructive and amicable paths with governments but have confidence in our case and look forward to presenting it.
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