On August 3, 2020, the Federal Trade Commission postponed a hearing on ICE’s acquisition of Black Knight to allow for a ruling on its preliminary injunction request.
ICE had planned to acquire Black Knight, a software provider for the mortgage and real estate industries, for $8 billion. The acquisition would have given ICE control of a company that processes about one-sixth of all mortgage applications in the United States.
The FTC filed a lawsuit to stop the acquisition, arguing that it would violate antitrust laws by creating a monopoly.
The postponement of the hearing is a victory for the FTC, as it gives the agency more time to prepare its case.
The acquisition is still pending, and it is unclear when or if the deal will go through.
You can read this full article at: https://www.housingwire.com/articles/ftc-postpones-administrative-hearing-on-ice-black-knight-merger/(subscription required)
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