MSFT - Judge denies FTC request to temporarily block Activision sale to Microsoft

2023-07-13 23:07:40 ET

A federal judge rejected the Federal Trade Commission's request to temporarily block Microsoft's ( NASDAQ: MSFT ) planned $69 billion acquisition of Activision ( NASDAQ: ATVI ).

U.S. District Judge Jacqueline Scott Corley rejected the FTC's request to have the mega videogame deal delayed as it appeals the judge's original decision denying a preliminary injunction on Tuesday, according to a court filing late Thursday.

The FTC appealed the court's decision against the agency's bid to block the transaction on Wednesday. The FTC appealed to the Ninth Circuit Court of Appeals. The FTC needs an emergency stay to extend the current temporary restraining order past midnight Friday.

Microsoft's $69 billion deal currently has a termination date of next Tuesday, when the parties can decide to walk away, extend, or renegotiate the $95 a share purchase of videogame giant Activision ( ATVI ).

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