Canaccord Genuity Morning Coffee on Facebook (FB): One-hour Photo Developing Never Took This Long
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Price: $45.06 +0.04%
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity Morning Coffee on Facebook (Nasdaq: FB): One-hour photo developing never took this long.
Bad news for Facebook continues to stream in as it receives a “second request” from U.S. antitrust regulators that will give its proposed purchase of Instagram a lengthy investigation, likely prolonging the acquisition initially expected to close in Q2/12. According to Reuters, the social network will be required to provide large amounts of data to ensure the deal complies with antitrust law as its stock continues to slide. It announced last month the deal for $300 million in cash plus about 23 million shares of common stock, a total value of $1 billion. Facebook says it will pay the photo company $200 million if the deal falls through. Both the FTC and the antitrust division of the Justice Department have authority to review mergers worth $62.8 million or more to ensure they don’t hurt competition. The FTC is looking at whether Facebook’s acquisition of Instagram could hurt competition in the social networking market by making the company or its services inaccessible to rivals, said two people familiar with the situation. The Financial Times reported that according to several experts, the process will take approximately 6-12 months.
Bad news for Facebook continues to stream in as it receives a “second request” from U.S. antitrust regulators that will give its proposed purchase of Instagram a lengthy investigation, likely prolonging the acquisition initially expected to close in Q2/12. According to Reuters, the social network will be required to provide large amounts of data to ensure the deal complies with antitrust law as its stock continues to slide. It announced last month the deal for $300 million in cash plus about 23 million shares of common stock, a total value of $1 billion. Facebook says it will pay the photo company $200 million if the deal falls through. Both the FTC and the antitrust division of the Justice Department have authority to review mergers worth $62.8 million or more to ensure they don’t hurt competition. The FTC is looking at whether Facebook’s acquisition of Instagram could hurt competition in the social networking market by making the company or its services inaccessible to rivals, said two people familiar with the situation. The Financial Times reported that according to several experts, the process will take approximately 6-12 months.
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