FTC Fails To Block Microsoft's Acquisition Of Activision Blizzard, So The $68.7 Billion Merger Will Happen After All

Looks like Microsoft Activision Blizzard — and King, don’t forget King — will become a thing after all.

The FTC’s attempt to block Microsoft's acquisition of Activision Blizzard has been denied in its appeal to the Ninth Circuit Court of Appeal. According to the court's filing, the motion for injunctive relief is denied. As a result, the FTC no longer has the opportunity to prevent the merger before the deadline of July 18.

Microsoft and Activision Blizzard are now poised to complete the $68.7 billion merger, pending approval from the Competition and Markets Authority (CMA) in the UK. The FTC may still hold an administrative hearing in August, but Microsoft and Activision Blizzard can request the FTC to drop its challenge on the grounds that it is no longer in the public interest. If the FTC chooses to continue opposing the deal, it would have to wait until the acquisition is completed before pursuing legal action to force divestiture, which could take several years.

While the US merger is moving forward, Microsoft is working on new proposals to address concerns raised by the CMA, which previously blocked the deal. The CMA aims to reach a final decision before August 29 but stated that it is unlikely to meet the July 18 deadline due to the need for further investigation.