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FTC OKs Adobe-Omniture Combine – Analyst Blog

Zacks Market Commentaries (October 7th, 2009) Writes:
Adobe Systems (ADBE) yesterday announced the termination of the legal waiting period mandatory under the amended Hart-Scott-Rodino Antitrust Improvements Act of 1976. The expiry of the waiting period was announced by the FTC in one of its customary listings of approved deals.   The approval is with respect to Adobe’s proposed acquisition of Omniture Inc. (OMTR) announced on Sept 15. On Sept 24, Adobe formally offered to buy Omniture through its wholly owned subsidiary, Snowbird Acquisition Corp. for $1.8 billion in cash.   Adobe’s financial advisor is Goldman Sachs Group (GS) while Omniture’s is Morgan Stanley (MS).   The grant of regulatory approval means that the two companies may now go ahead with the procedures necessary to close the deal. Omniture shareholders have until Oct 22 to approve the takeover, unless Adobe decides to extend the period.   Post acquisition, Omniture will operate as ...

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