Activision Blizzard Set To Leave Stock Exchange As Microsoft Deal Looms

Activision Blizzard is leaving the Nasdaq Stock Market, fuelling talk that Microsoft may soon complete its buyout of the company.

The FTC filed an appeal yesterday in order to challenge the verdict from the United States District Court for the Northern District of California which was ruled in favor of Microsoft. While the FTC's request for a preliminary injunction was denied, the Federal Trade Commission is still able to appeal the overall decision.

Currently, the deal cannot be completed until 11:59 pm on July 14 due to a temporary restraining order, unless the FTC themselves can get an extension. Otherwise, Microsoft will be looking to get the deal completed before the merger agreement expires on July 18, as if they hit that date then Activision Blizzard can walk away with a $3 billion termination fee.

In addition to these troubles, the CMA is also looking to block the deal but has paused legal proceedings in an attempt to reach an out-of-court agreement on the merger.