FTC Asks Federal Court to Temporarily Halt Intercontinental Exchange’s Deal to Purchase Black Knight

The U.S. Federal Trade Commission opened a new front in its fight against the Intercontinental Exchange deal to buy Black Knight by asking a federal court for a preliminary injunction to halt the deal while its internal administrative process moves forward.

The agency on March 9 said it would seek to stop New York Stock Exchange parent Intercontinental Exchange from acquiring mortgage data vendor Black Knight in a $13.1 billion deal.

The agency said in its complaint, filed in U.S. District Court in San Francisco, that the companies planned to close after a vote of Black Knight shareholders on April 28. The FTC’s administrative hearing on the deal will begin on July 12.

Read the source article at finance.yahoo.com