Microsoft has expressed its disappointment at the US Federal Trade Commission (FTC) after it launched a formal appeal to try and overturn the recent court verdict.
Microsoft Wins Big After Court Verdict
It was recently confirmed that a US judge has finally made the verdict of clearing the way for Microsoft’s Activision Blizzard acquisition deal. The judge deemed that FTC had not sufficiently proven that it should be blocked.
FTC on the Move Again
After the sound decision by Judge Corley, the US FTC was still weighing its options if it should launch an appeal afterward. After a few hours during the day, it was reported that the appeal went through and has already been filed to begin the process as quickly as possible. They had to do it fast since the time to file for an appeal was only short.
Microsoft is Disappointed
Microsoft President Brad Smith reacted to the news of FTC’s appeal. He stated that the US regulator had a “demonstrably weak case” and that Microsoft will fight back if needed.
“The District Court’s ruling makes crystal clear that this acquisition is good for both competition and consumers,” Smith said in a statement to Eurogamer.
“We’re disappointed that the FTC is continuing to pursue what has become a demonstrably weak case, and we will oppose further efforts to delay the ability to move forward.”
FTC Tactics
FTC may try to have the temporary restraining order extended which must be the reason for the appeal. It will stop Microsoft from completing the purchase before midnight PT this coming Friday, July 14, 2023. The acquisition deal has an expiry date this coming Tuesday, July 18, 2023, which means this is FTC’s “petty” move to block the deal as much as possible.
Microsoft is still committed to getting the acquisition closed by then and is already pushing forward with it this coming weekend. It has been reported that Activision Blizzard stock will be removed soon from NASDAQ.