Judge Corley, in her ruling, concluded that the FTC had not substantiated its claims of harm to consumers resulting from the merger. The FTC has stated its intention to appeal Corley’s decision and subsequently requested the district court to block the merger while the appeal is pending. However, Corley denied that motion shortly afterward.
The FTC initially filed a lawsuit in December to block the merger, citing concerns about potential harm to competition. An administrative hearing is scheduled for early August. The FTC sought a preliminary injunction to prevent the companies from finalizing the merger until the antitrust trial takes place. However, the merger deadline is set for July 18th.
Both Microsoft and Activision Blizzard appear confident in closing the deal by the deadline. Activision’s stock will be delisted from the Nasdaq-100 index before Monday’s stock market opens, suggesting that the deal may be completed around that time.
