FTC sues to block ICE's acquisition of Black Knight; ICE vows to fight

Intercontinental Exchange, Inc.

FTC filed administrative complaint on March 9, 2023 challenging ICE's proposed acquisition of Black Knight.
ICE and Black Knight 'strongly disagree' and will 'vigorously oppose' the FTC action in court.
Parties had agreed to sell Black Knight's Empower LOS business to Constellation Software to address antitrust concerns.
ICE expects to close the acquisition in the third or fourth quarter of 2023 despite the litigation.
ICE President Tim Bowler says deal would create a procompetitive end-to-end mortgage solution.

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