Why Black Knight Stock Is Gaining Today
Portfolio Pulse from Nabaparna Bhattacharya
The U.S. Federal Trade Commission (FTC) has agreed to dismiss a federal court case to block the acquisition of Black Knight, Inc. (BKI) by Intercontinental Exchange Inc. (ICE). This follows the announced divestiture agreements for Black Knight's Optimal Blue and Empower loan origination system businesses. BKI shares are trading higher by 4.41% to $74.65, while ICE shares are trading higher by 1.53% to $115.74.
August 07, 2023 | 3:30 pm
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POSITIVE IMPACT
FTC dismissal of case against ICE's acquisition of BKI has led to a rise in BKI's stock price.
The FTC's decision to dismiss the case against ICE's acquisition of BKI removes a significant barrier to the acquisition, which is likely to have boosted investor confidence in BKI, leading to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
FTC dismissal of case against ICE's acquisition of BKI has led to a rise in ICE's stock price.
The FTC's decision to dismiss the case against ICE's acquisition of BKI removes a significant barrier to the acquisition, which is likely to have boosted investor confidence in ICE, leading to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100