US Federal Judge Ruled in Favor of Activision Blizzard (ATVI)
US federal judge ruled in favor of Activision Blizzard (ATVI), rejecting the Federal Trade Commission's attempt to block its merger with Microsoft.
Today, a US federal judge ruled in favor of Activision Blizzard (ATVI), rejecting the Federal Trade Commission's attempt to block its merger with Microsoft. A US federal judge helped pave the way for Microsoft's (MSFT) completion of its $68.7 billion acquisition of Activision Blizzard (ATVI).
Main Points
- US federal judge ruled in favor of Activision Blizzard (ATVI), rejecting the Federal Trade Commission's attempt to block its merger with Microsoft.
- Activision Blizzard is grateful to the court for the US federal judge handling the process.
- Activision Blizzard ready to work with UK regulators.
- Microsoft shares rose 0.2% and Activision Blizzard shares rose more than 9%.
Activision Blizzard is grateful to the court for the manner in which the US federal judge handled this process and for the thoughtfulness of the decision.
The US joins 38 countries where the Activision Blizzard deal can proceed – these decisions are based on facts and figures that show Activision Blizzard's merger is good for Players and Competition in the industry. In San Francisco, Justice Jacqueline Scott Corley denied a Federal Trade Commission (FTC) motion seeking an injunction to stop the trade because of antitrust concerns.
However, the purchase may not move forward as Microsoft is negotiating with British regulators to get approval there, and the FTC may take the case to the Ninth US Circuit Court of Appeals. Activision Blizzard looks forward to working with UK regulators to expedite the completion of the merger and to resolve any difficulties Activision Blizzard may face.
"We are optimistic that today's decision paves the way for full regulatory approval," Bobby Kotick, Activision's CEO, said in a memo to employees.
