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Microsoft / Activision Deal Approval Watch |OT| (MS/ABK close)
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FTC to seek federal court order temporarily blocking Microsoft-Activision deal | CNN Business
The Federal Trade Commission on Monday sued to prevent Microsoft and Activision-Blizzard from closing their $69 billion merger.
www.cnn.com
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Hmm, I know the dmcc gives the CMA the ability to fine upto 10% but that ain't yet passed as far as I can tell.
What's the current situation?
What's the current situation?
cornonthecrobb
Banned
fuck.... hopefully this is it overFTC to seek federal court order temporarily blocking Microsoft-Activision deal | CNN Business
The Federal Trade Commission on Monday sued to prevent Microsoft and Activision-Blizzard from closing their $69 billion merger.
“Both a temporary restraining order and a preliminary injunction are necessary because Microsoft and Activision have represented that they may consummate the Proposed Acquisition at any time without any further notice to the Commission,” the FTC’s court filing said.
“We welcome the opportunity to present our case in federal court,” Brad Smith, Microsoft’s president, said in a statement. “We believe accelerating the legal process in the U.S. will ultimately bring more choice and competition to the market.”
LavitzSlambert
Member
FTC to seek federal court order temporarily blocking Microsoft-Activision deal | CNN Business
The Federal Trade Commission on Monday sued to prevent Microsoft and Activision-Blizzard from closing their $69 billion merger.
"fukken sue us i dare ya"
Kilau
Member
FTC to seek federal court order temporarily blocking Microsoft-Activision deal | CNN Business
The Federal Trade Commission on Monday sued to prevent Microsoft and Activision-Blizzard from closing their $69 billion merger.
Oi! Let ‘em fuck.
Bernoulli
M2 slut
Kilau
Member
Bojanglez
The Amiga Brotherhood
Can anyone actually clarify for sure what is in the deal regarding the regulator approval?
It seems in here people are suggesting it's either...
Would be interesting to know how it's phrased in the agreement.
It seems in here people are suggesting it's either...
- MS can only close once all 4 have approved (otherwise ABK get 3 billion)
- MS can close when they want, but take on any liability (ABK shareholders get their full money regardless)
Would be interesting to know how it's phrased in the agreement.
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Ogbert
Member
freefornow
Gold Member
From the article:
"Microsoft and Activision Blizzard have represented in the past that they cannot close their deal due to antitrust reviews of the transaction in other jurisdictions. Microsoft and Activision have not provided assurances that they will maintain that position. In light of that, and public reporting that Microsoft and Activision Blizzard are considering closing their deal imminently, we have filed a request for a temporary restraining order to prevent them from closing while review continues"
FTC needs to get off twitter. Judge will laugh at this.
Lulu meme tweet incoming.
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Bernoulli
M2 slut
If FTC used twitter as an indicator they are cooked
Kilau
Member
So is this trying to move all the time tables up? Twitter replies seem to think it means they already closed.
Bernoulli
M2 slut
The complaint is 38 pages long.
Highlights from it:
Plaintiff (the FTC) seeks this provisional relief pursuant to Section 13(b) of the Federal Trade Commission Act ("FTC Act"), 15 U.S.C. § 53(b). Both a temporary restraining order and a preliminary injunction are necessary because Microsoft and Activision have represented that they may consummate the Proposed Acquisition at any time REDACTED
without any further notice to the Commission. (Page 2)
An evidentiary hearing in that proceeding will begin in just seven weeks, on August 2, 2023. Fact discovery in the administrative proceeding has closed, expert reports have been served, and final witness lists and exhibit lists have been exchanged. The parties have scheduled expert depositions through the end of June, and motions in limine and pretrial briefs are due in July (Page 2).
Until recently, Defendants indicated that they would not complete the Proposed Acquisition unless and until they received clearance from European regulators, including in proceedings before this Court in a private case challenging the Proposed Acquisition. (Page 3)
On May 24, REDACTED. Press reports began circulating suggesting that Defendants were seriously contemplating closing the Proposed
Acquisition despite the pending administrative litigation and the CMA Orders. REDACTED (Page 3)
Plaintiff's request for a temporary restraining order is the subject of a separate emergency motion, in which Plaintiff asks the Court to enter—before 8:59 p.m. Pacific Time on June 15, 2023—an order prohibiting Defendants from consummating the Proposed Acquisition or a substantially similar acquisition until after this Court rules on the FTC's request for a preliminary injunction (Page 3)
Unless temporarily restrained and preliminarily enjoined by this Court, Defendants have represented that they that they may consummate the Proposed Acquisition at any time after June 15, 2023. (Page 10)
Highlights from it:
Plaintiff (the FTC) seeks this provisional relief pursuant to Section 13(b) of the Federal Trade Commission Act ("FTC Act"), 15 U.S.C. § 53(b). Both a temporary restraining order and a preliminary injunction are necessary because Microsoft and Activision have represented that they may consummate the Proposed Acquisition at any time REDACTED
without any further notice to the Commission. (Page 2)
An evidentiary hearing in that proceeding will begin in just seven weeks, on August 2, 2023. Fact discovery in the administrative proceeding has closed, expert reports have been served, and final witness lists and exhibit lists have been exchanged. The parties have scheduled expert depositions through the end of June, and motions in limine and pretrial briefs are due in July (Page 2).
Until recently, Defendants indicated that they would not complete the Proposed Acquisition unless and until they received clearance from European regulators, including in proceedings before this Court in a private case challenging the Proposed Acquisition. (Page 3)
On May 24, REDACTED. Press reports began circulating suggesting that Defendants were seriously contemplating closing the Proposed
Acquisition despite the pending administrative litigation and the CMA Orders. REDACTED (Page 3)
Plaintiff's request for a temporary restraining order is the subject of a separate emergency motion, in which Plaintiff asks the Court to enter—before 8:59 p.m. Pacific Time on June 15, 2023—an order prohibiting Defendants from consummating the Proposed Acquisition or a substantially similar acquisition until after this Court rules on the FTC's request for a preliminary injunction (Page 3)
Unless temporarily restrained and preliminarily enjoined by this Court, Defendants have represented that they that they may consummate the Proposed Acquisition at any time after June 15, 2023. (Page 10)
IFireflyl
Gold Member
Don't listen to
Ogbert
. If any of the regulators blocks the acquisition it's game over. That is according to the SEC filing. The only way around this would be for Activision and Microsoft to come to an agreement to modify/amend the original SEC submission to ignore whichever (non-U.S.) regulator they want to circumvent. The odds of that happening are almost zero, especially considering that the U.K. is Microsoft's second-largest market.
GHG
Gold Member
They want the process accelerated in the US because of the fact that the timeline in the UK is unsuitable.
So what Microsoft are hoping for is a resolution with the FTC and that gives them ammo with which to both persuade Activision to extend and with which to attack the CAT/CMA case.
So what Microsoft are hoping for is a resolution with the FTC and that gives them ammo with which to both persuade Activision to extend and with which to attack the CAT/CMA case.
Topher
Identifies as young
bxrz
Member
Its now an official court case. A federal judge will make the decision in the US. Nobody really knows whats going to happen until thats settled, and quickly because MS doesn't want to wait until July 18th
GHG
Gold Member
It's open for businesses
The poor woman just wants her Benjamins.
I think even she knows her goose is cooked after this ordeal is over.
Dick Jones
Banned
GHG
Gold Member
Literally.
That and the shareholder value that he helped destroy through his actions.
If he stepped down/away when appropriate then neither of those things are a problem. It's so tone deaf.
GHG
Gold Member
No, the FTC can still press on with their scheduled dates for August.
What they are asking for at the moment is something to ensure Microsoft and Activision don't attempt to close the deal in the meantime over their (and possibly the CMA's) heads.
harry mason 1989
Banned
Her husband must be the luckiest person on planet earthSomeone is ready
harry mason 1989
Banned
Sony already doing this
They put all there focus on destiny franchise
Have you seen all the advertisements in the uefa champions league final?
Banjo64
cumsessed
Nah man I was too busy getting blitzed in town to pay attention to the ads
Did you see the game Harry? City won the treble in case you missed it.
GHG
Gold Member
Because it's a direct response to the developments with the FTC today.
FTC is unlikely to settle with them in the near future.
If I've understood correctly the point is that relatively to the US market this is the only possibility to effectively and legally block the deal from happening in the US in the near future and support the CMA.
FTC will still have their review of the case in their court/tribunal regardless if they're granted the preliminary injunction or not.
If they win they can legally block the deal in the US, if they lose it's pretty much the same situation as it is now.
harry mason 1989
Banned
YesNah man I was too busy getting blitzed in town to pay attention to the ads
Did you see the game Harry? City won the treble in case you missed it.
That dumbass lukaku screwed inter
But congratulations to city They deserve the win
Bernoulli
M2 slut
The US judge will have 2 weeks to decide if they accept or not
That means by end of june we will know the FTC outcome
Microsoft wants to use this to keep Activision and make them extend
Banjo64
cumsessed
Interesting facts about Lukaku.Yes
That dumbass lukaku screwed inter
But congratulations to city They deserve the win
1. his total transfer fees add up to €327m
2. united spent £75m plus Rooney on him
3. if he played for the CMA’s defence team we’d be fucked
4. he’s shit
put in a great block at the weekend, played better for City’s defence than Akanji did.
gothmog
Gold Member
No, in the same way that granting or denying bail in a criminal case has no bearing on the case itself.
The Pleasure
Gold Member
BrutalTruth_
Banned
MS just needs to realize it's not going to happen and back down, they're going full nuclear
Dick Jones
Banned
If Lukaku shot Tupac, he'd be 51 today
dotnotbot
Member
Microsoft going full R, forgetting the old wise rule to never ever go full R
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