U.S. antitrust regulators approved Google Inc.'s $3.1-billion purchase of DoubleClick Inc., eliminating a major hurdle for the proposed combination in the burgeoning online advertising sector.
"After carefully reviewing the evidence, we have concluded that Google's proposed acquisition of DoubleClick is unlikely to substantially lessen competition," the Federal Trade Commission said Thursday in a statement.
Despite the FTC's green light, the transaction still faces antitrust scrutiny in Europe, and Google has said that it won't close the deal before it has clearance from European regulators. The European Commission has set a deadline of April 2 to complete its review.
Thursday, December 20, 2007
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