BKI - ICE says it certified compliance with FTC for planned Black Knight deal
- Intercontinental Exchange ( NYSE: ICE ) said it certified its compliance with the Federal Trade Commission in regards to its planned $13 billion purchase of Black Knight Inc. ( NYSE: BKI ).
- ICE also said it agreed to extend the FTC's statutory review period and the company plans to continue cooperate with the FTC staff, ICE CEO Jeffrey Sprecher said on the company's Q3 earnings conference call earlier on Thursday.
- The disclosure comes after Dealreporter in late August said the FTC was said to have starting requesting information about the BKI/ICE deal. Analysts initially said when the deal was announced in early May that the combination could be problematic from an antitrust perspective.
- A Raymond James analyst said at the time that the deal poses "significant" antitrust issues and there aren't any simple remedies. The acquisition could see antitrust concern as ICE's Ellie Mae's Encompass platform is the largest provider of loan origination software an d Black Knight's Empower is the "clear #2."
- Earlier Thursday ICE and Black Knight ( BKI ) reported Q3 results.
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ICE says it certified compliance with FTC for planned Black Knight deal