ICE, Black Knight Deal Suit Dropped by FTC Pending Accord (1)

The Federal Trade Commission agreed to drop its challenge to Intercontinental Exchange Inc.’s proposed deal with Black Knight Inc. in a joint stipulation that allows them to work toward a settlement.

ICE and Black Knight agreed with the FTC to refrain from closing the transaction until 10 days after they sign a consent order, the companies announced Monday. Under the agreement, the FTC’s federal court complaint and a temporary restraining order would be dropped while the parties continue to hammer out the settlement.

Black Knight shares were up 4.2% as of 3:49 p.m. in New York, while shares of ...