Deals
FTC Expected to Challenge ICE's $13.1 Billion Black Knight Deal This Week
- FTC expected to file merger challenge as soon as Thursday
- Deal would give combined company control over mortgage tools
The Federal Trade Commission headquarters in Washington, DC.
Photographer: Ting Shen/BloombergThis article is for subscribers only.
The Federal Trade Commission is expected to sue Intercontinental Exchange Inc. over its proposed $13.1 billion acquisition of mortgage software rival Black Knight Inc. as soon as Thursday, according to two people with knowledge of the matter.
The FTC is expected to challenge the deal over concerns it would create a near-monopoly in the market for loan origination software and give a single company control over many of the tools that lenders use to issue or refinance home mortgages, according to the people, who spoke anonymously to discuss an ongoing probe.