US to Oppose ICE’s Black Knight Deal, Politico Says (1)

The US Federal Trade Commission is expected to challenge Intercontinental Exchange Inc.’s $13 billion takeover of mortgage data company Black Knight Inc., according to a report by Politico.

Black Knight fell as much as 6.4% on the news in New York and closed down 3.5% at $60.85. That’s a discount to ICE’s $85-a-share offer of cash and stock, reflecting investors’ increasing pessimism that the deal would be consummated.

Intercontinental Exchange declined to comment. The FTC and Black Knight didn’t respond to requests for comment.

The pullback in the shares also leaves Black Knight near its $59.27 closing price on April ...