Federal antitrust regulators had sought to block the acquisition on the grounds that it would hurt competition in the emerging virtual reality market.
Meta Platforms Inc. said in a statement late Friday after the ruling was unsealed that it is “pleased” with the decision. “The threat is what keeps firms going,” testified economist Hal Singer, a witness for the FTC. “If I know there is a chance that someone could come in and steal my lunch,” he said, companies will innovate and constrain pricing.
Source: News Formal (newsformal.com)
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