FTC Asks Court To Temporarily Halt Microsoft's Acquisition of Activision

The FTC has asked a federal court to temporarily halt Microsoft's $69 billion acquisition of "Call of Duty" maker Activision Blizzard. Microsoft won its fight against the FTC on Tuesday, after a California judge said the agency had failed to show the deal would be illegal under antitrust law. The FTC appealed that loss yesterday, and Microsoft said it would fight that appeal. Reuters reports: In its motion, the FTC asked for an order that would prevent the deal from closing until after the 9th U.S. Circuit Court of Appeals has ruled on a separate stay request filed with that court. Any outstanding regulatory hurdle makes it more likely the agreement between Microsoft and Activision will expire on July 18 without the deal having been completed. After July 18, either company will be free to walk away from the deal unless they negotiate an extension. In its motion for the stay to Judge Jacqueline Scott Corley, the FTC argued her denial of a preliminary injunction to halt the deal "raises serious, substantial issues for the Court of Appeals to resolve." Specifically, the FTC said she had applied the wrong standard in considering the agency's request for a preliminary injunction. "Granting an injunction pending appeal is warranted because the FTC is likely to succeed on appeal," the agency wrote.

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