02:53:54 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Microsoft CDR (CAD Hedged)
Symbol MSFT
Shares Issued 8,800,000
Close 2023-07-11 C$ 24.77
Market Cap C$ 217,976,000
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Globe/AP say U.S. judge okays Microsoft-Activision deal

2023-07-12 07:18 ET - In the News

The Globe and Mail reports in its Wednesday, July 12, edition that a federal judge has handed Microsoft a major victory by declining to block its looming $69-billion (U.S.) takeover of video game company Activision Blizzard. An Associated Press dispatch to The Globe reports that regulators sought to axe the deal saying it will hurt competition. U.S. District Judge Jacqueline Scott Corley said in a ruling that the merger deserved scrutiny, noting it could be the largest in the history of the tech industry. However, federal regulators were unable to show how it would cause serious harm and would not likely prevail if they took it to a full trial, she wrote. The Federal Trade Commission (FTC), which enforces antitrust laws, "has not raised serious questions regarding whether the proposed merger is likely to substantially lessen competition" between video-game consoles or in the growing markets for monthly game subscriptions or cloud-based gaming, Justice Corley said. A ruling favourable to Microsoft was not a surprise after the company's lawyers had the upper hand in a five-day San Francisco court hearing that ended late last month. The FTC has not said whether it will appeal Justice Corley's ruling.

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