Black Knight rises after NYSE-parent ICE says it will litigate to save deal

Black Knight

07/03/2023 14:58

** Shares of mortgage software firm Black Knight Inc  BKI.N 
up ~4.2% at $60.90 in morning trading 
    ** New York Stock Exchange-parent Intercontinental Exchange
Inc  ICE.N  says it would litigate with the U.S. Federal Trade
Commission for approval of merger deal, if necessary
    ** Shares of ICE rise ~2.7% to $106.05 
    ** ICE and BKI say they would sell the mortgage data
vendor's Empower loan origination system business to a unit of
Canada's Constellation Software Inc  CSU.TO 
    ** ICE also lowers BKI's valuation to $11.7 bln under
amended deal terms vs $13.1 bln originally
    ** BKI shares down ~1.4% YTD, ICE up ~3.4% over the same
period 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))