FTC Files to Block Microsoft From Closing Activision Deal (3)

The Federal Trade Commission sued Microsoft Corp. in federal court Monday to block the company from closing its $69 billion acquisition of Activision Blizzard Inc.

In a filing in California federal court, the FTC sought a court order blocking the transaction from going through before the deal’s July 18 deadline, asking for the agency’s in-house court to have a chance to review.

WATCH: Microsoft Corp.’s video gaming chief Phil Spencer talks about trying to close the Activision deal.

Source: Bloomberg

Microsoft shares closed 1.6% higher at $331.85 while Activision Blizzard ended 0.8% lower at $79.77.

“We welcome the opportunity to present our case in federal court,” Microsoft President Brad Smith said in a statement. “We believe ...