Yahoo Finance legal correspondent Alexis Keenan details the FTC's latest decision to attempt to block Microsoft's acquisition deal with Activision-Blizzard.
(Bloomberg) -- The US Federal Trade Commission is seeking to block Microsoft Corp.’s $69 billion acquisition of Activision Blizzard Inc., saying the tie-up between the Xbox maker and popular gaming publisher would harm competition.Most Read from BloombergPutin Calls Russian Nukes Deterrent Factor, Says War Risk RisingPeru’s President Accused of Coup After Move to Dissolve CongressWNBA Star Griner Freed in One-for-One Swap for Arms DealerElon Musk’s Bankers Consider Tesla Margin Loans to Cut Risk
The Biden administration filed a complaint on Thursday aimed at blocking tech giant Microsoft's $69 billion bid to buy "Call of Duty" games maker Activision, over concerns the deal would deny rivals access to popular games. Microsoft, which owns the Xbox, said in January 2022 that it would buy Activision for $68.7 billion in the biggest gaming industry deal in history. In its complaint, the U.S. Federal Trade Commission, which enforces antitrust law, said that Microsoft had a record of buying valuable gaming content and using it to suppress competition from rival consoles.