Adobe on Monday shelved its $20 billion cash-and-stock deal for cloud-based designer platform Figma, pointing to “no clear path” for approvals from antitrust regulators in the European Union and the UK.
Britain’s competition watchdog earlier said on Monday that Adobe would not propose remedies to resolve regulatory concerns regarding the buyout.
Adobe, which struck the deal in September last year, has forecast its annual and quarterly revenue below estimates as tightened client spending remains a drag on its business.
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