Activision Blizzard stock to be delisted from NASDAQ amidst FTC appeal of Microsoft deal
So the FTC won't let them be or let them be them, so let us see.
The FTC has filed an appeal over Tuesday's federal court decision to deny a preliminary injunction against Microsoft's acquisition of Activision Blizzard.
The FTC appeal was filed the same day NASDAQ announced Activision Blizzard will be delisted from the NASDAQ-100 Index this coming Monday, July 17 in preparation for the Microsoft takeover on July 18.
This is a pressing matter for both companies because if the deal does not close by the 18th, Microsoft will have to fork over $3 billion to Activision Blizzard and renegotiate the acquisition deal.
It's possible the deal may not go through, as the FTC could likely ask the appeals court to extend its temporary restraining order against Microsoft before the court decides whether to allow an appeal. The restraining order ends on Friday, July 14 at 3pm ET.
However, should the appeals court not extend the temporary restraining order, Microsoft will be free to acquire Activision Blizzard by the July 18 deadline.
As off press time, the merger has been approved by the EU and 39 countries, with the main holdout being the UK; however, Microsoft is currently working with the Competition and Markets Authority (CMA) to modify the acquisition to address the CMA's concerns in a way that is acceptable to both parties.