Moving quickly to avoid what it worries could be a surprise merger finalization announcement, the US Federal Trade Commission has sought a temporary restraining order to prevent Microsoft from completing its $69 billion acquisition of video game giant Activision Blizzard.
"Both a temporary restraining order and a preliminary injunction are necessary because Microsoft and Activision have represented that they may consummate the proposed acquisition at any time … without any further notice to the Commision," the FTC said in its complaint. The FTC believes Microsoft and Activision could be planning to act as soon as this Thursday, June 15, and asked the court to make its decision before then.
"In deciding whether to grant [this] relief, the Court must balance the likelihood of the Commission's ultimate success," the FTC said in its filing. So will it succeed? The Commission's lawyers think so. Ergo,"preliminary relief is warranted and necessary," the FTC concludes, because without it Microsoft may simply go ahead with the merger before the FTC makes its final decision. If the pair had already merged and the FTC decided to block the move,"reestablishing the status quo would be difficult, if not impossible."
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: VGC_News - 🏆 125. / 51 Read more »