EU's Antitrust Warning Looms Over Adobe's $20B Figma Takeover Bid: Report

Adobe Inc.'s ADBE $20 billion takeover of Figma Inc will reportedly face an EU antitrust warning in the coming days.

The European Commission is preparing a report of objections to send to the companies in the coming days, Reuters reported, citing three people familiar with the matter.

These documents or charge sheets outline the concerns of the EU competition authority regarding why certain deals might be considered "anti-competitive," the report read.

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In August, the EU regulatory body initiated an in-depth investigation into Adobe's planned takeover, citing potential concerns over diminished competition in worldwide markets for interactive product design tools and the possibility of excluding competitors, it added.

San Francisco-based Figma's web-based collaborative platform for designs and brainstorming is associated with Zoom Video Communications, Inc. ZM, Airbnb, Inc. ABNB and Coinbase Global, COIN, Reuters added.

The Commission is due to settle on the deal by Feb. 5.

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Price Action: ADBE shares are trading higher by 2.13% to $602.93 on the last check Tuesday. 

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.