FTC issues approval for Facebook-Instagram deal to move forward
The Federal Trade Commission announced today that it has closed its investigation of the Facebook-Instagram acquisition without taking any action, which will allow the deal to move forward.
The commission was unanimous in its decision to end investigation into whether the deal violated antitrust laws. The FTC regularly looks into acquisitions over $66 million. When Facebook announced that it planned to buy the mobile photo sharing app in April, the deal was worth $1 billion in cash and stock.
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