Why Black Knight Stock Is Gaining Today

Intercontinental Exchange Inc. ICE said that the U.S. Federal Trade Commission (FTC) has agreed to dismiss a federal court case to block the close of its previously announced acquisition of Black Knight, Inc. BKI. The parties have jointly stipulated to dismiss the case. The joint agreement will allow them to continue working toward a final settlement agreement with the FTC.

Related: Intercontinental Exchange Says Disappointed On FTC's Attempt To Block Black Knight Deal

In connection with the stipulation, ICE and Black Knight have entered into a Timing Agreement with the FTC staff to refrain from closing the acquisition of Black Knight. 

The agreement follows the announced divestiture agreements for Black Knight's Optimal Blue business and Empower loan origination system (LOS) business, which were announced earlier this year in July and March, respectively.

The divestiture transactions are subject to the closing of ICE's acquisition of Black Knight and other customary closing conditions.

Price Action: BKI shares are trading higher by 4.41% to $74.65, while ICE shares are trading higher by 1.53% to $115.74 on the last check Monday.