“The technology company’s $69 billion bid to buy games maker Activision Blizzard impedes competition in the video games industry,” the lawsuit filed Tuesday in federal court in California on behalf of ten private users said “Far outsize market power in the video game industry” with “the ability to exclude competitors, limit production, restrict consumer choice, increase prices and further impede competition”. The market must be protected from “monopolistic mergers”. that will harm consumers in the long term,” the plaintiffs’ attorney said. Microsoft stated that the acquisition “will expand competition and create more opportunities for gamers and game developers.”
Private plaintiffs can assert antitrust claims in a US court, even if a corresponding proceeding is pending with a US agency. About two weeks ago, the FTC filed a lawsuit against the largest takeover in the video game market to date. The multi-billion dollar offer is also under scrutiny in Europe.
Microsoft shares closed 1.09 percent higher at $244.43 on the NASDAQ on Wednesday.
Reuters
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