MGM/Amazon deal said to see EC state of play meeting today
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Executives from Amazon's (NASDAQ:AMZN) and MGM Studios (OTC:MGMB) are said to be attending a "state of play" meeting with the European Commission today.
While state of play meetings have in the past been associated with concerns about a transaction, these types of meetings have been occurring more frequently, according to a Dealreporter item, which cited a source familiar. The parties are confident they will be able to receive EC Phase 1 approval without any concessions.
The report comes after the Information reported Monday that the U.S. Federal Trade Commission is said to be preparing for a potential lawsuit to challenge the transaction. The FTC is said to be exploring options including hiring expert witnesses and will decide in the next few weeks if it will pursue a block of the deal.
The MGM/Amazon deal was notified to the European Commission on Feb. 8, with a provisional deadline for a Phase I decision coming March 15.
Dealreporter last month said the MGM/Amazon deal will likely take a while to wrap up as the FTC continues to pore over it for antitrust concerns.