Intel stock extends gains after report of possible U.S. government stake
Investing.com -- Microsoft (NASDAQ:MSFT)’s $69 billion acquisition of Activision Blizzard (NASDAQ:ATVI), the maker of "Call of Duty," has overcome a legal challenge presented by the U.S. Federal Trade Commission (FTC). A federal appeals court on Wednesday dismissed the FTC’s attempt to block the deal.
The San Francisco-based 9th U.S. Circuit Court of Appeals upheld a previous ruling by a lower court. This earlier decision stated that the FTC was not eligible for a preliminary injunction that would prevent the transaction. The deal between Microsoft and Activision Blizzard was successfully closed in 2023.
This ruling by the 9th U.S. Circuit Court of Appeals effectively removes a significant legal obstacle for Microsoft’s substantial purchase of Activision Blizzard. The FTC’s challenge was unable to halt the completion of the deal, allowing Microsoft to proceed with the acquisition as planned.
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