Why Black Knight Shares Are Surging Today
Portfolio Pulse from Akanksha Bakshi
Intercontinental Exchange Inc (ICE) and Black Knight Inc (BKI) have agreed to sell Black Knight's Optimal Blue business to a subsidiary of Constellation Software Inc (CNSWF) for $700 million. This is part of efforts to secure regulatory clearance for ICE's proposed acquisition of Black Knight. The divestiture transaction is subject to the closing of ICE's acquisition of Black Knight. ICE shares are trading lower by 1.11% at $116.26 and BKI higher by 14.09% at $69.89.
July 17, 2023 | 2:19 pm
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POSITIVE IMPACT
BKI's shares are trading higher by 14.09% following the announcement of the divestiture of Optimal Blue.
The divestiture of Optimal Blue is a significant move for BKI, which may be seen as a positive step by investors, leading to an increase in share price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
CNSWF is acquiring Optimal Blue from ICE and BKI for $700 million.
The acquisition of Optimal Blue is a significant move for CNSWF, but it's unclear how this will impact the company's share price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
ICE's shares are trading lower by 1.11% following the announcement of the divestiture of Optimal Blue.
The divestiture of Optimal Blue is a significant move for ICE, which may be causing uncertainty among investors, leading to a decrease in share price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100