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Facebook’s $1 billion Instagram buy is being probed by FTC, acc. to FT

By  |  May 10, 2012
Facebook’s $1 billion Instagram buy is being probed by FTC, acc. to FT

The Financial Times cites two sources saying that the FTC is probing Facebook’s $1 billion proposed acquisition of Instagram. Although most mergers valued at more than $66 million must be reported to the FTC, the investigation could set back Facebook’s plans to close the deal by the end of the second quarter. Facebook cannot integrate Instagram into its platform until the transaction is finalized. The probe could take as long as 12 months; competition experts believe the FTC will look at the deal with close scrutiny because of its price tag and the parties’ high profiles.

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