Investing
US FTC official withdraws case against Microsoft-Activision deal before internal agency judge
© Reuters. FILE PHOTO: Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard’s games characters in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
WASHINGTON (Reuters) -The U.S. Federal Trade Commission official on Thursday withdrew the agency’s case before an in-house judge that sought to block Microsoft (NASDAQ:)’s $69 billion acquisition of game-maker Activision.
The agency has been pursuing a two-pronged attack against the proposed transaction. One was in district court, which refused last week to slap a preliminary injunction on the proposed transaction. An appeals court also turned down a request for the deal to be paused.
The second was before an FTC administrative law judge, where the deal was set to go to trial on Aug. 2. It was this attack that the agency put on hold on Thursday, in an order made by FTC Secretary April Tabor.
Microsoft and Activision argued in a motion posted to the FTC’s website on Wednesday that withdrawing the agency’s case was both mandatory and in the public interest.
“The district court had a full opportunity to consider the FTC’s claims and found that the Commission was unlikely to succeed on the merits of those claims for multiple, independently sufficient reasons,” the companies said in their motion.
Read the full article here
-
Side Hustles7 days ago
Mark Zuckerberg Is Now Second Richest Person in the World
-
Investing7 days ago
Nvidia CEO Jensen Huang: Demand For Blackwell AI Is Insane
-
Side Hustles7 days ago
Meta Previews Movie Gen, AI Tools That Turn Dreams to Videos
-
Investing5 days ago
Hurricane Helene Hits Spruce Pine Mine, Quartz Used for Tech
-
Side Hustles6 days ago
5 Key Strategies for a Seamless Cloud Migration
-
Investing6 days ago
Israel stocks lower at close of trade; TA 35 down 0.23% By Investing.com
-
Investing7 days ago
BCA says investors should fade the real estate rally By Investing.com
-
Passive Income6 days ago
Go Paperless with the PDF Reader Pro for $49.99