Adobe and Figma call off $20 billion acquisition after regulatory scrutiny
Publishing timestamp: 2023-12-18 11:29:36
Summary
Adobe and Figma have decided to terminate their planned $20 billion merger due to regulatory hurdles. The companies disagreed with recent regulatory findings but decided it was in their best interests to move forward independently. Adobe will pay Figma a $1 billion breakup fee. The news caused Adobe shares to rise slightly. Antitrust regulators have been scrutinizing tech deals, and it has become clear that regulators do not see the merger the same way as Adobe and Figma. Both companies expressed a desire to continue finding ways to partner in the future.
Sentiment: MIXED
Tickers: MSFT, ADBE, SSTK, META,
Keywords: antitrust regulation, shutterstock inc, adobe inc., meta platforms inc, technology, mergers and acquisitions, monopoly and antitrust, breaking news: technology, business news, microsoft corp,
Source: https://www.cnbc.com/2023/12/18/adobe-and-figma-call-off-20-billion-merger.html