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(Bloomberg) -- The US Federal Trade Commission is leaning toward appealing a federal judge’s ruling against the agency’s bid to block Microsoft Corp.’s $69 billion acquisition of Activision Blizzard Inc., according to a person familiar with the case.Most Read from BloombergPoisoned Cough Syrup Killed Kids. Authorities Cut the Investigation ShortTurkey Agrees to Back Sweden’s NATO Bid in Boost to AllianceMicrosoft Cleared to Buy Activision in US as UK Pauses FightDeSantis Says No Thanks to $377 M

Corporate leaders are feeling emboldened by another legal defeat for the Federal Trade Commission, though the agency may still fight to block the takeover.

In her 53-page order, US District Judge Jacqueline Scott Corley said it was not enough for the FTC to argue that "a merger might lessen competition - the FTC must show the merger will probably substantially lessen competition."

The FTC says it is disappointed with Judge Corley's ruling, says the Microsoft-Activision merger is a 'clear threat to competition' in various markets.

The U.S. Federal Trade Commission would face hurdles in any appeal of a court's order on Tuesday that said Microsoft could move forward with its $69 billion acquisition of Call of Duty maker...