Getty Images is terminating its acquisition of Shutterstock after UK regulators imposed conditions the company deemed unacceptable, despite US antitrust approval in February.
Getty said it will not accept UK Competition and Markets Authority restrictions that would force Shutterstock to divest its editorial business as a condition of the merger.
The US Department of Justice granted unconditional antitrust clearance in February, but the UK regulator took a harder line on competitive concerns. Getty's decision to walk away marks a rare case where transatlantic regulatory divergence derails a major tech deal.
Shutterstock's stock fell sharply following the announcement. The merger, announced in October 2023, would have combined two major players in the stock imagery market. Getty argued the UK's divestiture requirement was incompatible with the deal's economics and strategic rationale.
The breakup highlights growing differences in how US and UK authorities approach merger reviews, with UK regulators increasingly willing to impose structural remedies that US counterparts rejected.
MiniMax Group Inc.'s stock plummeted following JPMorgan Chase's second price target reduction in under a week. The downgrade cites value dilution concerns from the Chinese AI model maker's recent fundraising round.
Hyundai Motor workers launched a three-day partial strike Monday, demanding higher bonuses and job protections against AI and robotics displacement. The move follows recent wage gains at semiconductor competitors.
The White House is requiring its official app to be installed on all government employee devices, according to reports. The mandate covers federal workers across agencies.
Netflix confronts investor concerns as subscriber growth plateaus. The streaming giant must demonstrate its ability to maintain momentum in an increasingly competitive market.