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.
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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