23:54:12 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Microsoft CDR (CAD Hedged)
Symbol MSFT
Shares Issued 8,750,000
Close 2023-06-12 C$ 24.74
Market Cap C$ 216,475,000
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Globe/wire say Microsoft's Activision deal stymied

2023-06-13 08:40 ET - In the News

The Globe and Mail reports in its Tuesday, June 13, edition that the U.S. Federal Trade Commission asked a court to temporarily block Microsoft's acquisition of Activision Blizzard on Monday, seeking to halt the $69-billion (U.S.) deal from closing before the government's case against it is heard. A Reuters dispatch to The Globe reports that the FTC said Microsoft and Activision had signalled the deal could close as soon as Friday and asked a federal judge to block any final agreement before 11:59 p.m. ET on Thursday. The FTC said the deal would give Microsoft the "ability and increased incentive to withhold or degrade Activision's content in ways that substantially lessen competition." The FTC said that without action by a judge, the combined firm "could alter Activision's operations and business plans," and could allow Microsoft to access sensitive business information. The FTC had already asked an in-house administrative judge to block the transaction on antitrust grounds in early December, arguing that it would give Microsoft's Xbox exclusive access to Activision games, leaving Nintendo consoles and Sony Group's PlayStation out in the cold. Antitrust experts say the FTC faces an uphill battle.

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