FTC withdraws lawsuit against Microsoft’s $69 billion Activision deal

The Federal Trade Commission (FTC) has ended its attempt to block Microsoft’s (NASDAQ:MSFT) $68.7 billion acquisition of Activision Blizzard, withdrawing its complaint after losing an appeal to stop the deal.

This marks the conclusion of nearly two years of regulatory resistance, which began with the FTC’s opposition in 2023.

Microsoft’s president, Brad Smith, said on Thursday that the FTC’s decision to drop the case was “a victory for players across the country and for common sense in Washington DC”.

Microsoft (NASDAQ:MSFT) cleared legal hurdles in July 2023 after a federal court denied the FTC’s injunction request.