US Court Temporarily Blocks Microsoft's Acquisition of Activision Blizzard

A US court has issued a temporary order preventing Microsoft from finalizing its acquisition of Activision Blizzard, following a request from the Federal Trade Commission (FTC) to block the deal until the Commission's legal challenge has been resolved. The FTC expressed concerns that Microsoft and Activision Blizzard were planning to merge despite ongoing legal proceedings and a block by the UK's Competition and Markets Authority. The Commission is seeking a preliminary injunction to prevent the deal from being completed until after an anti-trust hearing scheduled for August. The hearing for the preliminary injunction request is set to begin, with several high-profile executives named as witnesses, including Satya Nadella, Bobby Kotick, and Jim Ryan. The acquisition, initially expected to be completed by June 30, 2023, has been delayed due to regulatory hurdles, including the FTC's legal challenge and the UK's block. If the deal is not completed by July 18, Microsoft will be required to pay Activision Blizzard $3 billion in fees to abandon the deal.