ATVI - FTC set to file for injunction to block Microsoft acquisition of Activision - report

2023-06-12 11:23:24 ET

• The Federal Trade Commission is expected to ask for a preliminary injunction in federal court to stop Microsoft from completing its planned $69 billion acquisition of Activision ( NASDAQ: ATVI ). Activision ticked down 0.4%.
• The FTC is expected today to file for a temporary order that restricts Microsoft ( NASDAQ: MSFT ) from completing the mega videogame, according to an MLex report. The deal has a termination deadline of July 18, where the parties can walk away, extend, or renegotiate the deal.
• The FTC originally filed a lawsuit in December to block the $95 per share Activision deal, though the suit was through an in-house administrative court proceeding that's scheduled to take place in August.
• The potential legal filing from the FTC comes as the regulator has two closed door meetings scheduled for Monday, one for 9:15 a.m. and one for 12:45 p.m.
• Developing story ...

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