Honestly, the way things are going now, Microsoft should, if they were behaving reasonably, drop the merger and spin off their gaming interests as a separate, independent entity, as that would be the only way for them to avoid having all the dirt come out in court.To add upon the above.
The big law firm's and the very high paid lawyers recommended MS to play the part of the bullied underdog with a rags to riches story. When they saw that that failed, they moved on to being what they actually are, they adopted the bully strategy. Now we're on the hail Mary, where they have nothing else and are just praying this passes.
There's a reason why specific news have been released and public discourse has been shaped both via select magazines and their minion army of influencers. They have been changing their tune publicly before any of the "damaging" news of delays, sometimes just a few hours before. They know before us, as they should, of what's happening.
The problem is that by doing this they are running a very risky strategy. If the CMA, FTC or Euro Comission want to actually pay attention, they will see that the grassroots movement goes way deeper and not only they'll ask Microsoft for more information if a court battle ensues, but they will also information about their marketing affairs. This could unravel all their astroturfing efforts and it's something XBOX can't afford.
After what they put on the court record in support of Epic’s suit against Apple last year, and being caught in the Bethesda buyout as acting in distinctly anticompetitive ways, they created a situation where tangling with the FTC while the same executives are in place guaranteed big trouble for themselves.
In the Epic case, Microsoft made it public record that they have never turned a profit on Xbox, only false profits on Xbox Live when viewed separately from hardware and software. That shows a 20-year pattern of trying to take over a market by dumping product AND lying about it to shareholders and the SEC.