The U.S. Federal Trade Commission (FTC) has retracted its case to block Microsoft's (MSFT, Financial) $69 billion acquisition of game developer Activision Blizzard, stating that pursuing the matter further is not in the public interest. Earlier this month, the FTC's appeal to overturn a judge's decision allowing the merger was dismissed. The acquisition was completed in 2023 and marks the largest ever in the video game industry.
Despite initially losing its case, the FTC still had the option to seek cancellation of the acquisition in a hearing, which was scheduled for July. The FTC argued that the merger would enable Microsoft to suppress competition against Xbox and its subscription and cloud gaming services.
