FTC Chair Lina Khan testifies during a House Energy and Commerce Subcommittee hearing on Innovation, Data, and Commerce on the “Federal Trade Commission Budget for Fiscal Year 2024” at the Rayburn Building on Tuesday, April 18, 2023.
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Federal Trade Commission is set to file an injunction seeking to block by Microsoft Proposal to buy back Activating blizzarda person familiar with the matter told CNBC.
FTC already has was sued to block a $68.7 billion acquisition, chooses to bring the case before its own internal administrative law judge. Through that trial-like process, the ALJ will issue an initial decision that can be appealed to the full committee for a vote. Microsoft can then appeal to federal court if it decides not to go its way.
By filing for an injunction, the FTC is seeking to prevent the acquisition from being made before the deal’s July 18 deadline. The case will be brought before the ALJ in August. ONE Stunning Later Decision of the UK Competition and Markets Authority to prevent a merger is also scheduled to take place this summer shortly after the acquisition deadline.
Microsoft told CNBC it would welcome the ban because it would bring the case before a federal judge faster.
Shares of Microsoft and Activision were mostly unchanged Monday afternoon.
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