FTC Extends Review Of $860M CoStar's LoopNet Buy

Law360, New York (July 1, 2011, 9:16 PM EDT) -- Real estate information provider CoStar Group Inc. announced Friday that the U.S. Federal Trade Commission had requested more details about CoStar's deal to buy rival LoopNet Inc. for $860 million.

The FTC's second request for information on the proposal, made on Thursday, adds another 30 days to the waiting period before the transaction can legally be made under the Hart-Scott-Rodino Act, which prohibits parties in a large merger or acquisition from closing the deal until the waiting period has passed or the government has granted early...
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