Microsoft moves closer to completing $69 billion Activision takeover after court rebuffs regulators

A U.S. appeals court on Friday rejected a bid by federal regulators to block Microsoft from closing its $68.7 billion deal to buy video game maker Activision Blizzard, paving the way for the completion of the biggest acquisition in tech history after a legal battle over whether it will undermine competition.  

In a brief ruling, a three-judge panel on the 9th U.S. Circuit Court of Appeals concluded there were no grounds for issuing an order that would have prevented Microsoft from completing its nearly 18-month-old deal to take over the maker of popular video games such as Call of Duty.  

Microsoft didn't immediately respond to a request for comment. The Redmond, Washington, software maker is facing a $3 billion termination fee if deal isn't completed by Tuesday.  

The appeal filed by the U.S. Federal Trade Commission was a last-ditch effort from antitrust enforcers to halt the merger after another federal judge earlier this week ruled against the agency's attempt to block it. The FTC was seeking an injunction to prevent Microsoft from moving to close the deal as early as this weekend.