A U.S. appeals court on Friday rejected a bid by federal regulators to block Microsoft from closing its $68.7 billion deal to buy video game maker Activision Blizzard, paving the way for the completion of the biggest acquisition in tech history.
it was suing to block the sale, saying at the time that such a deal would"enable Microsoft to suppress competitors to its Xbox gaming consoles and its rapidly growing subscription content and cloud-gaming business." , said the FTC hadn't shown that the deal would cause substantial harm.
The case has been a difficult test for the FTC's stepped-up scrutiny of the tech industry's business practices under its chairperson, Lina Khan, appointed in 2021 by President Biden. Standing legal doctrine has favored mergers between companies that don't directly compete with one another. It was the FTC, however, that had asked Corley for an urgent hearing on its request to block Microsoft and Activision Blizzard from rushing to close the deal. The agency's argument was that if the deal closed now, it would be harder to reverse the merger if it was later found to violate antitrust laws.
The deal still faces an obstacle in the United Kingdom, though one it now appears closer to surmounting.
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