JHVEPhoto
Adobe (NASDAQ:ADBE) shares rose Tuesday even as it was reported that the enterprise software maker will likely face an antitrust warning from the European Union in the coming days.
Adobe Likely to Face Statement of Objections from the European Commission over its $20 billion deal to buy software maker Figma, Reuters reportedciting three people familiar with the matter.
Such a warning could force Adobe (ADBE) to offer solutions, the news outlet added. The EC is scheduled to decide on the agreement before February 5.
Adobe (ADBE) did not immediately respond to a request for comment from Searching Alpha.
Adobe (ADBE), headquartered in San Jose, California gained more than 2% in midday operations, but had been up to almost 4% earlier in the session.
The European Commission said in October it had restarted its investigation into the deal, after suspending it in September.
Separately, in October, the Competition and Markets Authority, the UK’s antitrust agency, said it extended the deadline to complete its investigation of the deal until February 25, 2024 due to “special reasons.”
Adobe (ADBE) has repeatedly said it still expects its acquisition of the design software company, first announced in September 2022, to close by the end of this year.
