Shutterstock Shares Plunge 30% After Getty Terminates Merger Over UK Remedy
Updated
Updated · Bloomberg · Jun 30
Shutterstock Shares Plunge 30% After Getty Terminates Merger Over UK Remedy
1 articles · Updated · Bloomberg · Jun 30
Summary
Shutterstock fell about 30% in after-hours trading after Getty Images said it would scrap their planned merger.
Getty’s board voted to terminate the deal after the UK Competition and Markets Authority tied approval to a sale of Getty’s editorial photography business.
The collapse leaves the merger undone because Getty chose to abandon the transaction rather than accept the regulator’s divestiture condition.