The Federal Trade Commission (FTC) will file for an injunction to block Microsoft's $68.7 billion Acquisition of Activision Blizzard before the deal's July 18 deadline. The FTC had already sued to block the acquisition and the case is set to go before an administrative law judge in August. An appeal of the U.K.'s Competition and Markets Authority's decision to block the merger is also scheduled to take place this summer. Microsoft President Brad Smith said the company welcomes the opportunity to present its case in federal court. Shares of Microsoft and Activision were roughly flat on Monday afternoon.

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