The
Federal Trade Commission (FTC), which lost a fight in court to
block the acquisition, said in a filing that it has decided to
formally end its effort.
The FTC sued Meta in July to stop the Within deal, arguing that
Meta's purchase would reduce competition in a new market. The
deal for Within, which makes the Supernatural fitness workouts,
was reportedly worth about $400 million.
Judge Edward Davila of the U.S. District Court for the Northern
District of California rejected the FTC's concerns, and declined
to order a preliminary injunction. The FTC did not appeal, and
the deal closed in February.
The FTC's effort had been seen as a test of the agency's ability
to prevent Meta from acquiring small would-be rivals.
Meta said in a statement that it was "excited" to have wrapped
up the transaction to buy Within.
(Reporting by Diane Bartz in WashingtonEditing by Matthew Lewis
and David Gregorio)
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