Microsoft announced its Activision/Blizzard acquisition in a huge $68.7 billion deal last January, but there are a lot of regulatory hoops to jump through before the purchase becomes reality. One of those hurdles may be getting checked off the list, however, as Microsoft has filed for approval with the US Federal Trade Commission (FTC) as of late last week.
As noted by VGChartz.com, the FTC has 30 days to request more information from Microsoft, but if they don't the deal will get automatic approval. The FTC had previously already asked the companies for more information back in March, and this latest submission is in response to that. Approval isn't a slam dunk, as new FTC chairperson Lina Khan has taken a tough stance on mergers, saying back in January:
"While the current merger boom has delivered massive fees for investment banks, evidence suggests that many Americans historically have lost out, with diminished opportunity, higher prices, lower wages, and lagging innovation."
Even if the deal is approved by the FTC, the acquisition will still require approval from the likes of the European Union, but Microsoft believes that the approval process is "moving fast," and still on track to close the deal by July 2023.