Microsoft Corp.’s success fighting the Federal Trade Commission’s challenge to its $69 billion Activision Blizzard Inc. acquisition could ease the path to more deals at a time when Wall Street has been confronting a severe merger drought.
Stiffer enforcement by the FTC and Justice Department under the Biden administration has deterred a number of deals in recent years, but those regulators’ losing record in the courtroom will likely weaken that effect, experts said.
“Deterrence is less effective if you don’t win your cases,” said Washington antitrust lawyer Deborah Garza.
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