ICE buyout target Black Knight to sell unit to ease antitrust concerns (updated)

Constellation Software

17/07/2023 13:53

(Adds background on ICE-Black Knight deal)
       July 17 (Reuters) - 
    U.S. mortgage data vendor Black Knight  BKI.N  said on
Monday it would sell its Optimal Blue business for $700 million,
in an attempt to quell antitrust concerns over its proposed
buyout by NYSE-owner Intercontinental Exchange  ICE.N .
    Canadian business software provider Constellation Software
 CSU.TO  will buy the unit.
    ICE's $11.7 billion deal for Black Knight has come under
scrutiny from the U.S. Federal Trade Commission amid concerns
among some U.S. lawmakers that the pricing power ICE would gain
in the mortgage data market could lead to higher costs for
consumers.
    In March, the companies said they would take the battle to
court to save the deal, if necessary.

 (Reporting by Niket Nishant in Bengaluru; Editing by Anil
D'Silva and Devika Syamnath)
 ((Niket.Nishant@thomsonreuters.com;))