The Federal Trade Commission (FTC) has scheduled a closed meeting for next Thursday. Although the topic of the meeting has not been disclosed, investors are already speculating that it may concern ongoing mergers and acquisitions (M&A) transactions.
One pair of companies experiencing declines today due to uncertainty about the future of their deal is Matterport (MTTR.US) and CoStar (CSGP.US). CoStar announced its intent to acquire Matterport on April 22 last year, causing the stock price of the target company to surge by over 175%. Since then, the FTC has requested more details from the companies regarding the potential acquisition. Today, Matterport's stock is down over 4%, driven by investor concerns about the completion of the deal, while CoStar is down nearly 2.4%.
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Open account Try demo Download mobile app Download mobile appThe FTC meeting on Thursday will be the last one with its current composition, as Andrew Ferguson is set to become the new FTC Chairman following the change in administration and Donald Trump's assumption of the presidency.
Matterport's shares erase almost all the gains the company has recorded since the beginning of the year. Source: xStation
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