Black Knight down 5% after Politico says FTC to challenge deal

Shares of Black Knight (BKI) are down about 5% to $60.05 after Politico reported, citing source, that the Federal Trade Commission is expected to challenge the takeover of the mortgage data company by Intercontinental Exchange (ICE). Three people with knowledge of the matter told Politico’s Joshua Sisco that the FTC believes the deal would give Intercontinental Exchange, which also owns the NYSE, too much power in the U.S. mortgage market and that a case is expected to be filed some time in March.