COSTAR GROUP, INC. (NASDAQ:CSGP) Files An 8-K Other EventsItem 8.01. Other Events.
As previously disclosed, on September 11, 2017, CoStar Group, Inc. (the “Company”) and CoStar Realty Information, Inc., the Company’s wholly owned subsidiary (“CRI”) entered into a Securities Purchase Agreement with LTM Company Dominion, LLC (“LTM”), Dominion Enterprises (“Dominion”), and Landmark Media Enterprises, LLC (“Landmark” and, together with LTM and Dominion, the “Sellers”) to which CRI will acquire all of the issued and outstanding shares of common stock of DE Holdings, Inc. (the “Acquisition”).
On November 24, 2017, the Company and Landmark each received a request for additional information and documentary materials from the United States Federal Trade Commission (the “FTC”) with respect to the Acquisition. The request for information from the FTC, commonly referred to as a “second request,” is part of the regulatory process under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”).The second request extends the waiting period imposed by the HSR Act until 30 days after the parties have substantially complied with the second request unless that period is extended voluntarily by the parties or terminated sooner by the FTC. The Company intends to respond expeditiously to this request.The Company and Landmark have been working cooperatively with the FTC as it conducts its review of the proposed transaction, and will continue to do so through the completion of that review. The Company expects the Acquisition to close in the first half of 2018, subject to the expiration or termination of the applicable waiting period under the HSR Act and the satisfaction or waiver of all closing conditions.
About COSTAR GROUP, INC. (NASDAQ:CSGP)
CoStar Group, Inc. (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate industry. It manages its business through two segments: North America, which includes the United States and parts of Canada, and International, which includes parts of the United Kingdom, Spain and France. The Company owns and operates online marketplaces for commercial real estate and apartment listings in the United States. It has created and compiled its standardized platform of information, analytics and online marketplace services where industry professionals and consumers of commercial real estate, including apartments, and the related business communities, can interact and facilitate transactions by accessing and exchanging standardized real estate-related information. Its service offerings span all commercial property types, including office, retail, industrial, multifamily, commercial land, mixed-use and hospitality.