Why Black Knight (BKI) Stock Is Gaining Today - Intercontinental Exchange (NYSE:ICE)

Intercontinental Exchange Inc. (NYSE:ICE) said that the U.S. Federal Trade Commission (FTC) has agreed to dismiss a federal court case to block the close of its previously announced acquisition of Black Knight, Inc. (NYSE:BKI). The parties have jointly stipulated to dismiss the case. The joint agreement will allow them to continue working toward a final settlement agreement with the FTC.

In connection with the stipulation, ICE and Black Knight have entered into a Timing Agreement with the FTC staff to refrain from closing the acquisition of Black Knight.

The agreement follows the announced divestiture agreements for Black Knight's Optimal Blue business and Empower loan origination system (LOS) business, which were announced earlier this year in July and March, respectively.

The divestiture transactions are subject to the closing of ICE's acquisition of Black Knight and other customary closing conditions.

Price Action: BKI shares are trading higher by 4.41% to $74.65, while ICE shares are trading higher by 1.53% to $115.74 on the last check Monday.

ICEIntercontinental Exchange Inc

$139.05-%

Overview

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.

Benzinga

Benzinga

Why Black Knight Stock Is Gaining Today