HomeNewsWorldMicrosoft, Activision CEOs on witness list for hearing on FTC bid to block merger

Microsoft, Activision CEOs on witness list for hearing on FTC bid to block merger

The FTC is seeking a preliminary injunction to block Microsoft from completing its $69 billion acquisition of Activision Blizzard.

June 21, 2023 / 06:38 IST
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Microsoft, Activision CEOs on witness list for hearing on FTC bid to block merger
Microsoft, Activision CEOs on witness list for hearing on FTC bid to block merger

Microsoft CEO Satya Nadella and Activision Blizzard CEO Bobby Kotick are among the witnesses planned for a five-day evidentiary hearing set to begin this week on the Federal Trade Commission's legal bid to block the deal, according to a court filing on Tuesday.

The FTC is seeking a preliminary injunction to block Microsoft from completing its $69 billion acquisition of Activision Blizzard. Microsoft has argued that if the court grants an injunction it would effectively kill the deal, which has a termination date of July 18 and contains a $3 billion termination fee that Microsoft would have to pay.

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The hearing will begin June 22 and progress through June 29.

The FTC has argued the transaction would give Microsoft's video game console Xbox exclusive access to Activision games, leaving Nintendo consoles and Sony Group Corp's PlayStation out in the cold.