By Edith Hancock
The U.K.'s Competition and Markets Authority will investigate U.S. online recommendation platform Outbrain's merger with media company Teads, the watchdog said Friday.
The regulator set a provisional Feb. 5, 2025, deadline to end its preliminary investigation and decide whether or not to start an in-depth probe of the deal. It said that the formal review period will start on Dec. 9.
Outbrain and Teads announced their plan to merge last August to bolster their position in digital advertising, challenging the dominance of advertising outfits owned by Google and Meta.
Under the terms of the deal, Outbrain will buy Teads from its parent company, Altice Teads, for $1 billion, including $725 million cash. Altice Teads will also take a minority stake in Outbrain.
Write to Edith Hancock at edith.hancock@wsj.com
(END) Dow Jones Newswires
December 06, 2024 07:08 ET (12:08 GMT)
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