BKI - Black Knight dips on report that FTC will sue to block Intercontinental deal this week

2023-03-06 15:58:37 ET

• Black Knight ( NYSE: BKI ) fell 0.8% amid a report that the Federal Trade Commission is expected to file a lawsuit to challenge its sale to Intercontinental Exchange ( NYSE: ICE ) as soon as Thursday.
• The regulator is likely to challenge the acquisition of the mortgage software company is grounds that it will create a near-monopoly in the market for loan origination software, according to traders, who cited a Bloomberg report.
• The news comes after Politico reported last Monday that the FTC was likely to sue to challenge the BKI-ICE deal. The FTC is set to argue that the deal would give ICE ( ICE ) too much power in the U.S. mortgage market and may cause higher home prices for consumers and competitors in the mortgage data and services industry.

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