The deadline for Microsoft to buy Activision Blizzard expired yesterday. While we wait for further news on whether companies have agreed to extend the deadline, more information is coming from the United States.
Litigation against PlayStation players fails. Supreme Court he refused an emergency injunction filed by a group of ten players in an attempt to prevent Microsoft from buying Activision Blizzard. It had previously been rejected by the Ninth Appeals District. The lawsuit was based on an attempt to show that consumers are at risk of loss or damage as a result of the merger, which, in their opinion, is intended to significantly reduce competition in the gaming market.
The Federal Trade Commission (FTC) also failed last week. This was recently called for by 22 Republicans from the House of Representatives. ended current litigation with Microsoft. The letter was addressed to FTC Chair Lina Khan and Commissioners Slaughter and Bedoye. Republicans want the agency to return to its long history of sensible, consumer-oriented antitrust enforcement.
“The FTC case against Microsoft’s acquisition of Activision Blizzard is the latest in a series of moves that are clearly aimed at preventing legitimate mergers and acquisitions. In doing so, they ignore decades of established FTC practice in both Republican and Democratic administrations.” it’s written in a letter. “Instead of protecting competition, as Congress intended, the Federal Trade Commission is spending taxpayer money to block a deal that promises to expand consumer choice and insulate a dominant foreign company from competition.”
This is two more good news for Microsoft. In the meantime, fans are waiting for information on how events will develop further. Microsoft was supposed to buy Activision Blizzard until yesterday. Today, the original agreement should no longer apply. However, acquisition lawyers and various sources are leaning towards both parties agreeing to an extension without having to pay Microsoft. $3 billion fine. Other analysts point to Bobby Kotick. Activision Blizzard’s CEO could take advantage of the fact that AB stock is now more valuable than it was more than a year ago and ask Microsoft for more money. Activision Blizzard is now worth nearly $73 billion, according to stock data, with the American giant buying the company for $68.7 billion. Microsoft shares also performed well yesterday. They jumped more than 5%.
On Monday, the UK hosted a conference of the Court of Appeal for Competition (CAT). The judge heard statements from both Microsoft and the Competition and Markets Authority (CMA) and tentatively agreed to a two-month stay of the trial. Thus, all parties have two months to come to an agreement.
Source :Indian TV
