The U.K.’s Competition and Markets Authority said in a statement that it has decided, on the evidence currently available to it, that it is or may be the case that the proposed merger between Shutterstock (SSTK) and Getty Images (GETY) may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for an in-depth, phase 2 investigation unless the parties offer an acceptable undertaking to address these competition concerns, the CMA said.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GETY:
- Shutterstock: CMA intends to refer proposed merger with Getty to Phase 2 review
- Getty Images Announces Pricing for Senior Notes Offering
- Getty Images Announces $628.4M Note Offering
- Getty Images announces proposed offering of senior secured notes due 2030
- Getty Images named Official Photographer of New York Film Festival