Xbox and PlayStation are LYING in this FTC case?
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Microsoft is heading to court on June 22nd to face the Federal Trade Commission in a five day case that will determine the future of its $68.7 billion proposed acquisition of Activision Blizzard. The FTC wants a preliminary injunction granted to prevent Microsoft from closing its deal ahead of a separate legal challenge that’s due to commence on August 2nd.
The stakes are high. Microsoft has until July 18th to try and close its proposed acquisition; otherwise, it has to pay $3 billion in breakup fees to Activision Blizzard or renegotiate new terms. The FTC isn’t the only regulator trying to block this deal from happening, either. The UK’s Competition and Markets Authority (CMA) decided to block the deal in April, and Microsoft is currently appealing that decision in a case that will commence in late July.