tumsasedgars/iStock via Getty Images
Adobe (NASDAQ:ADBE) is increasingly likely to face an in-depth review from the European Union’s antitrust regulator concerning its proposed $20B Figma acquisition.
San Jose, California-based Adobe (ADBE) will not offer remedies to address the concerns of the agency, Bloomberg reported, citing two people familiar with the matter.
“We continue to have productive conversations with regulatory bodies worldwide,” an Adobe spokesperson told Seeking Alpha. “We are excited about the value Adobe and Figma will bring to customers by making product design more accessible and efficient, reimagining creative capabilities on the web and creating new categories of creativity and productivity.”
Last month, it was reported that Adobe (ADBE) was likely to face an in-depth review and deal with a more detailed phase 2 probe from the European Commission.
Adobe (ADBE) shares rose 0.7% in late day trading on Monday.
In May, the U.K.’s antitrust authority, the Competition and Markets Authority, said it was probing the $20B deal. The U.S. Department of Justice is also reportedly planning to file an antitrust lawsuit to block the deal.
Earlier this year, the European Commission said it would “assess” the proposed deal, which it said did not reach the revenue thresholds set by the EU Merger Regulation and therefore was not notified to the Commission.
Adobe announced its plan to acquire Figma with a combination of cash and stock in September 2022.