ICE, Black Knight, FTC Agree To Dismiss Fed Court Case; Black Knight Up In Pre-market

(RTTNews) - Intercontinental Exchange, Inc. (ICE), a financial data company and stock exchange, and Black Knight, Inc. (BKI) a software company announced on Monday that the Federal Trade Commission or FTC has agreed to dismiss the preliminary injunction proceedings in the United States District Court seeking to block ICE's acquisition of Black Knight.

ICE and Black Knight have entered into an agreement with the FTC to refrain from closing ICE's acquisition of Black Knight on the tenth calendar day after the parties sign an Agreement Containing Consent Order or ACCO.

The agreement provides certain deadlines and milestones for a mutually acceptable ACCO by August 25. If the parties involved do not sign an ACCO by that time, any party may unilaterally terminate the agreement within three calendar days by written notice to all parties.

Both companies have entered into divestiture agreements to secure regulatory clearance for ICE's proposed acquisition of Black Knight.

In pre-market activity, ICE shares are trading at $111.31 down 2.36% and Black Knight shares are trading at $74.51 up 4.21% on the New York Stock Exchange.