FTC Greenlights Facebook's $1B Instagram Buy

Law360, New York (August 22, 2012, 9:14 PM EDT) -- The Federal Trade Commission has ended its nonpublic investigation into Facebook Inc.’s proposed $1 billion deal to buy photo-sharing app company Instagram Inc., the agency said Wednesday.

The regulator voted 5-0 to clear the deal and has now closed its probe of the transaction, it said in a statement.

In letters to the respective counsel for Facebook and Instagram, the FTC said that while it had been conducting the investigation to determine whether the proposed tie-up might violate Section 7 of the Clayton Act or Section...
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