Judge denies FTC request to temporarily block Activision sale to Microsoft
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A federal judge rejected the Federal Trade Commission's request to temporarily block Microsoft's (NASDAQ:MSFT) planned $69 billion acquisition of Activision (NASDAQ:ATVI).
U.S. District Judge Jacqueline Scott Corley rejected the FTC's request to have the mega videogame deal delayed as it appeals the judge's original decision denying a preliminary injunction on Tuesday, according to a court filing late Thursday.
"The FTC asks this Court to enjoin the merger at issue pending resolution of the FTCâs appeal to the Ninth Circuit Court of Appeals," Judge Corley wrote. "The motion is DENIED."
The FTC field a notice on Wednesday that it would appeal the court's decision against the agency's bid to block the transaction. The FTC made the appeal to the Ninth Circuit Court of Appeals in San Francisco. The FTC needs an emergency stay to extend the current temporary restraining order past midnight Friday.
The FTC filed for an emergency motion for a temporary pause in the close of the transaction with the Ninth Circuit Court of Appeals, according to a court filing on Thursday. 
"The FTC brings this emergency motion for a temporary pause on consummation of the deal to allow the Court time to consider whether the FTCâs appeal is meritorious and a preliminary injunction should issue," the FTC wrote in the Thursday court filing.
Microsoft's $69 billion deal currently has a termination date of next Tuesday, when the parties can decide to walk away, extend, or renegotiate the $95 a share purchase of videogame giant Activision (ATVI).
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