FTC will appeal court ruling that paved way for Microsoft’s acquisition of Activision – GeekWire

The U.S. Federal Trade Commission will appeal a court order from earlier this week that allowed Microsoft’s $68.7 billion acquisition of Activision Blizzard to move forward.

• The ruling released Tuesday from U.S. District Judge Jacqueline Scott Corley denied the FTC’s motion for a preliminary injunction in the agency’s attempt to block the acquisition.
• The FTC filed a notice Wednesday but other details of its appeal are not yet available.
• The companies have a contractual July 18 deadline to complete the deal. There is a temporary restraining order preventing the acquisition from closing that expires Friday, CNBC reported.
• Update: Here’s a statement from Microsoft President Brad Smith: “The District Court’s ruling makes crystal clear that this acquisition is good for both competition and consumers. We’re disappointed that the FTC is continuing to pursue what has become a demonstrably weak case, and we will oppose further efforts to delay the ability to move forward.”