LoopNet To Shed Unit To Reboot $860M CoStar Deal

Law360, New York (April 26, 2012, 5:25 PM EDT) -- Real estate information provider CoStar Group Inc.'s long-delayed $860 million acquisition of rival LoopNet Inc. moved one step closer to completion Thursday after the Federal Trade Commission said it would approve the sale if the combined entity shed its Xceligent subsidiary.

The regulator said its commissioners had approved a consent order in which LoopNet Inc. agreed to sell Xceligent to British data and media group Daily Mail and General Trust PLC. Like CoStar, Xceligent tracks commercial real estate listings and keeps the information in a database...
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