The U.S. Federal Trade Commission (FTC) is appealing a district court’s decision not to block the $68.7 billion deal between Microsoft and Activision Blizzard, reports The Verge.
The relevant hearings in the Court of Appeal will begin on December 6. All this is happening despite the fact that Microsoft officially announced a merger with Activision Blizzard back in October of this year.
This appeal is opposed by 37 venture capital firms and investors. In their view, it “threatens the cycle of investment and entrepreneurship that drives America’s innovative economy.”
As a reminder, the FTC was against the merger of the two companies. The Trade Commission sought an injunction against the merger from a US federal district court.
However, in July of this year, a judge in California allowed Microsoft to close the deal to buy Activision Blizzard. At the time, the judge noted that the FTC had not proved that the merger would significantly lessen competition in the industry.