Microsoft Forges Ahead with Appeal Despite Blockage
Microsoft (NASDAQ: MSFT)'s appeal of the UK's blockage of its colossal $69 billion acquisition of Activision Blizzard (NASDAQ: ATVI) is on track for late July. The move follows the Competition Appeal Tribunal's (CAT) dismissal of a delay plea from the antitrust regulator.
Competition and Markets Authority Seeks Delay
Earlier in April, the Competition and Markets Authority (CMA) blocked the takeover and recently sought to postpone the appeal hearing from July 28 to October. The additional time, the CMA argued, would enable it to better prepare and present its case against the tech giant's mega-deal.
CAT Prioritizes Swift Resolution Over Delay
Despite the CMA's argument, the CAT rejected the delay request. The tribunal stated, "We consider that the CMA has not paid sufficient heed to the true public interest in this case – which is the swift resolution of Microsoft's Notice." The decision underscores the tribunal's focus on expedited proceedings in cases of high public interest.