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FTC Votes 4-0 to Block Black Knight’s Acquisition by ICE

The Federal Trade Commission voted 4-0 for a lawsuit to stop Black Knight’s proposed $13 billion purchase by Intercontinental Exchange. So reports Bloomberg.

Black Knight“This deal would reduce competition in key areas of the mortgage process, ultimately raising costs for lenders and home buyers," Patty Brink, acting deputy director of the FTC’s Bureau of Competition, said in a statement. 

ICE, which owns mortgage software company Ellie Mae, said it will “vigorously oppose” the FTC’s suit, filed in the regulator’s in-house court.

Read the full article from Bloomberg.

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