Microsoft Files Rebuttal To FTC's Lawsuit Against Activision Deal - Microsoft (NASDAQ:MSFT)

Microsoft Corp MSFT has rebutted a Federal Trade Commission lawsuit to block its acquisition of Activision Blizzard Inc ATVI for $75 billion.
The software giant has filed a rebuttal saying the acquisition will not hamper competition in the video gaming industry since it is neither a top console company nor a software developer.
Instead, the company aims to infuse more competition through its Xbox video gaming unit, the WSJ reported.
"Xbox wants to grow its presence in mobile gaming, and three-quarters of Activision's gamers and more than a third of its revenues come from mobile offerings," the report quoted Microsoft's response to the FTC lawsuit.
Also Read: Kevin Kelly Has This Activision Options Strategy After FTC Votes Against Microsoft Deal
"Xbox also believes it is good business to make Activision's limited portfolio of popular games more accessible to consumers by putting them on more platforms and making them more affordable."
The FTC, in its complaint, has said that the deal could give a chance to Microsoft to control consumer behavior.
"This $69 billion acquisition would give Microsoft the means to harm competition in multiple fast-growing gaming markets," said deputy director of the FTC's bureau of competition, John Newman.
Microsoft announced its plan to acquire Activision in January 2022. The acquisition will make Microsoft the third-largest gaming company by revenue in the world.
Also Read: Video Gamers Prosecuted Microsoft Over Activision Deal Citing Antitrust Elements
Price Action: MSFT shares are trading higher by 0.23% at $238.74 in premarket on the last check Friday.
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