RentPath Nixes CoStar's $588M Acquisition Amid FTC Scrutiny

RentPath Holdings has terminated its $588M deal to be acquired by CoStar Group after federal officials scrutinized and later sued to block the merger between the real estate data sites.
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The deal, agreed to in February, was held up by the Federal Trade Commission, which asked in April for more details from the companies and then filed a complaint in November to block the move. RentPath, which filed for Chapter 11 bankruptcy in February, said in a statement Tuesday its traffic has grown in the second half of 2020 and it has the backing of “well-known” asset management firms.

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