UK Regulators Grant Conditional Clearance for Getty Images-Shutterstock Merger
GETY is trading near its 52-week low of $0.67 (11% above the low) on light trading volume (0.4× avg).
Summary
Getty Images announced that the UK's CMA has given conditional approval for its merger with Shutterstock, moving the significant transaction closer to completion.
Key Events · M&A and Partnerships · GETY
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CMA Issues Final Report
The UK Competition and Markets Authority (CMA) has issued its final report regarding the merger with Shutterstock Inc.
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Conditional Merger Clearance
The report grants conditional clearance for the proposed merger, resolving a major regulatory uncertainty that has been ongoing since the provisional decision in February.
Analysis · GETY · Trade & Services
The UK Competition and Markets Authority (CMA) has issued its final report, granting conditional clearance for the previously announced merger between Getty Images and Shutterstock. This removes a significant regulatory hurdle for the proposed transaction, which has been under review for months, following the provisional decision in February and US clearance in late February. The completion of this merger is critical for Getty Images, given its current market valuation and recent financial performance.
At the time of this filing, GETY was trading at $0.74 on NYSE in the Trade & Services sector, with a market capitalization of approximately $299.5M. The 52-week trading range was $0.67 to $3.21. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.