Microsoft still reportedly intends to close the Activision Blizzard deal, even if a resolution with the FTC is not agreed upon.
The FTC (Federal Trade Commission) has had its concerns should Microsoft successfully acquire Activision Blizzard. It’s believed that Microsoft will benefit from an unfair advantage over its industry rivals, should the deal come to fruition.
Microsoft will seal the deal in spite of the FTC
Just this week, reports were making the rounds that the FTC intends to make an out-of-court settlement with Microsoft. However, as reported by MP1ST, even if an agreement can’t be made with the FTC, Microsoft still intends to seal the deal.
Courtesy of the first pre-trial hearing, Microsoft lead counsel, Beth Wilkinson said regardless of apparent discussions with the FTC, the Activision Blizzard deal will still “go forward.”
Microsoft hopes to come to an agreement with regulators
What’s more, if Microsoft were to come to an agreement with the European Commission or the Competition and Markets Authority in the UK, the same deal would be offered to the FTC.
Wilkinson said at the recent hearing: “The deal is undergoing review over in Europe and the UK and we are hoping that they will be resolved and if there are remedies that are appropriate we can come back to … the FTC to talk about a resolution.”
The deal has a deadline
Microsoft’s attempted acquisition of Activision Blizzard has a termination date of July 18th, 2023. However, the FTC’s in-house trial is set for August 2nd, 2023. At this time, the FTC is yet to officially file an injunction to prevent the $68.7 billion from happening.
What’s more, in November 2022, Activision Blizzard informed investors that it believes the Microsoft takeover will be finalised by June 2023. It remains to be seen if that deadline will be met.
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Featured Image Credit: Activision Blizzard/Source: MP1ST via ResetEra