A federal judge in San Francisco has denied the Federal Trade Commission's (FTC) request for a preliminary injunction to stop Microsoft (MSFT.US) from finalising its acquisition of video game publisher Activision Blizzard (ATVI.US). In the face of this news, Activision-Blizzard shares climbed 4.75 per cent higher, reaching their highest levels since late April. The transaction itself still has many unknowns ahead.
The FTC can now appeal the decision to the Federal Court of Appeal, and both companies must find a way to resolve the objections of the Competition and Markets Authority in the UK.
Source: xStation 5
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