Microsoft has requested a London tribunal to temporarily halt its appeal against the Competition and Markets Authority’s (CMA) rejection of its $69 billion takeover bid for Activision Blizzard. The aim is to allow both parties more time to resolve the dispute without intervention from the tribunal.
The CMA, in April, became the first major regulator to block the acquisition, citing concerns about the impact on competition in cloud gaming. The US Federal Trade Commission (FTC) also opposed the deal but failed to secure a temporary halt to the acquisition through a federal court.
Typically, the CMA’s final report is the final outcome of a case, leaving companies with no option but to appeal to the Competition Appeal Tribunal (CAT). However, last week, shortly after a US federal court allowed the deal to proceed, the CMA expressed willingness to re-examine a modified proposal and conduct a new investigation.
All parties involved have requested a two-month pause in the case at the CAT. The CMA’s lawyers argue that this pause will facilitate constructive engagement with Microsoft’s proposals. Microsoft’s lawyers claim that the CMA is the main obstacle to closing the deal and that a temporary halt will enable all parties to seek a solution.
Nevertheless, Judge Marcus Smith has expressed a desire to hear the lawyers’ arguments regarding the CMA’s legal authority to consider a modified deal. He also inquired whether the CMA took into account the FTC’s initial defeat in the US.
By Thomson Reuters 2023
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Eugen Boglaru is an AI aficionado covering the fascinating and rapidly advancing field of Artificial Intelligence. From machine learning breakthroughs to ethical considerations, Eugen provides readers with a deep dive into the world of AI, demystifying complex concepts and exploring the transformative impact of intelligent technologies.
