The US FTC imposes divestiture and "unusual" conduct remedies to protect the competitor after an acquisition in commercial real estate databases and information services (CoStar / Loopnet)

On April 26, 2012, the FTC challenged CoStar Group’s proposed $860 million acquisition of LoopNet and accepted a settlement that required not only divestitures, but also “unusual” additional conduct remedies [1]. CoStar is the largest provider of commercial real estate (CRE) information services in the US through its proactively researched nationwide listings database and comprehensive CRE information services [2]. LoopNet is the most heavily trafficked CRE listings database in the US, and LoopNet also offers CRE information services through Xceligent, which provides comprehensive CRE information services in 33 metropolitan areas [3]. LoopNet holds a significant ownership stake in Xceligent [4]. The FTC’s complaint alleged that CoStar’s proposed

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Authors

  • Weil, Gotshal & Manges (Washington)
  • Weil, Gotshal & Manges (Washington)

Quotation

Laura A. Wilkinson, Megan Granger, The US FTC imposes divestiture and "unusual" conduct remedies to protect the competitor after an acquisition in commercial real estate databases and information services (CoStar / Loopnet), 29 August 2012, e-Competitions Bulletin US Mergers in IT, Art. N° 53018

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