It looks like computational giant Microsoft is going to be facing some more misery as the firm buckles up to face another massive lawsuit linked to the purchase of Activision Blizzard.
The company was just one step closer to finishing the buyout of the popular video gaming firm. But it was given a huge reality check related to how that wouldn’t be possible anymore as a federal regulator broke the bad news.
It was reported how the deal as per a contract between the two firms requires both parties to make a final decision by the middle of next month. But by the way things are going as per reports from the FTC, it appears that Microsoft wouldn’t be able to make the mega purchase after all.
For those who might not be aware, they’re behind some leading names such as Call of Duty that’s immensely popular with the masses.
As we speak, the FTC mentioned how they were already going to be taking the tech giant to court to put an end to the merger but as a matter of fact, it was difficult to set the right date for trial. And now, the date outlined is the start of August of this year.
With that said, it does not mean that both firms cannot be stopped from making the deal. The plan is still on but the roadblock that lies ahead needs to be taken into consideration. As far as this particular lawsuit is concerned, the goal is to stop the firms from closing the high-profile deal that has been in the spotlight for quite some time now.
Microsoft is the maker of the world’s leading Xbox gaming system and it’s really been struggling in that aspect for a while now. We’re talking about no sense of winning approval on a global basis for such a deal that has been on the end works for one month as the deadline draws near.
For most of the most part, the makers of Xbox have been struggling big time to get the right approval for such deals, and with one month remaining, we’re curious to see how things do end up.
Microsoft was very stern about how it felt on the matter and how it’s now seeing this as a great opportunity to present its side of the case in court. It added how the goal was to acquire the firm so that it could bring in the greater competition so the masses could benefit.
This is certainly going to be one of the most expensive mergers of all time and let’s not forget how there is already a lot of hate being spread from rivals including the makers of Play Station.
By last month, the deal seemed to have gained plenty of popularity when regulators in Europe gave a nod of approval while other nations including South Korea, China, and even Brazil said yes.
But in reality, the whole blockbuster ordeal continues to be in danger thanks to the shocking stance taken up by the United Kingdom’s Competitor and Markets Authority as well as the lawsuit in America.
H/T: CNBC
Read next: Microsoft’s New Image-Enhancing Feature On Edge Accused Of Gathering And Sending Image URLs
The company was just one step closer to finishing the buyout of the popular video gaming firm. But it was given a huge reality check related to how that wouldn’t be possible anymore as a federal regulator broke the bad news.
It was reported how the deal as per a contract between the two firms requires both parties to make a final decision by the middle of next month. But by the way things are going as per reports from the FTC, it appears that Microsoft wouldn’t be able to make the mega purchase after all.
For those who might not be aware, they’re behind some leading names such as Call of Duty that’s immensely popular with the masses.
As we speak, the FTC mentioned how they were already going to be taking the tech giant to court to put an end to the merger but as a matter of fact, it was difficult to set the right date for trial. And now, the date outlined is the start of August of this year.
With that said, it does not mean that both firms cannot be stopped from making the deal. The plan is still on but the roadblock that lies ahead needs to be taken into consideration. As far as this particular lawsuit is concerned, the goal is to stop the firms from closing the high-profile deal that has been in the spotlight for quite some time now.
Microsoft is the maker of the world’s leading Xbox gaming system and it’s really been struggling in that aspect for a while now. We’re talking about no sense of winning approval on a global basis for such a deal that has been on the end works for one month as the deadline draws near.
For most of the most part, the makers of Xbox have been struggling big time to get the right approval for such deals, and with one month remaining, we’re curious to see how things do end up.
Microsoft was very stern about how it felt on the matter and how it’s now seeing this as a great opportunity to present its side of the case in court. It added how the goal was to acquire the firm so that it could bring in the greater competition so the masses could benefit.
Today’s action by the FTC to file suit in our Activision case in federal court should accelerate the decision-making process. This benefits everyone. We always prefer constructive and amicable paths with governments but have confidence in our case and look forward to presenting…
— Brad Smith (@BradSmi) June 12, 2023
This is certainly going to be one of the most expensive mergers of all time and let’s not forget how there is already a lot of hate being spread from rivals including the makers of Play Station.
By last month, the deal seemed to have gained plenty of popularity when regulators in Europe gave a nod of approval while other nations including South Korea, China, and even Brazil said yes.
But in reality, the whole blockbuster ordeal continues to be in danger thanks to the shocking stance taken up by the United Kingdom’s Competitor and Markets Authority as well as the lawsuit in America.
H/T: CNBC
Read next: Microsoft’s New Image-Enhancing Feature On Edge Accused Of Gathering And Sending Image URLs
