Adobe (ADBE) Stock Sinks as U.S. Reportedly Plans to Block Figma Acquisition

  • Adobe (ADBE) stock is falling on reports that the U.S. government will block its Figma acquisition.
  • The U.S. Justice Department is reportedly preparing an antitrust lawsuit to halt the deal.
  • Reportedly, Adobe still expects the $20 billion acquisition to close by the end of 2023.
ADBE Stock. A white and blue building with the Adobe logo is pictured in front of a blue sky

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Adobe (NASDAQ:ADBE) stock is falling on Friday on reports that the U.S. may stand in the way of its $20 billion Figma acquisition.

According to reports, people close to the matter claim that the U.S. Justice Department is preparing an antitrust lawsuit to stop the deal. These same reports claim the government may file this lawsuit as early as March.

As for Adobe’s opinion on the reports, the company says there shouldn’t be trouble with regulators. It argues that Adobe and Figma are in different product categories.

Adding to this, Adobe says it’s already in discussions with regulators in the U.S. and Europe about its Figma acquisition. Based on those talks, the company expects the deal to close before the end of the year, Reuters notes.

ADBE Stock Movement on Friday

Investors in ADBE stock have had their confidence shaken by the antitrust lawsuit reports. As a result, the company’s shares have fallen 6.4% as of Friday morning. At the same time, some 1.5 million shares have changed hands so far. For comparison, the company’s daily average trading volume is about 2.7 million shares.

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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