November 3, 2017 / 6:18 PM / a year ago

Bankrate to divest for Red Ventures merger -FTC

WASHINGTON, Nov 3 (Reuters) - Bankrate Inc will divest its unit as a condition of its acquisition by Red Ventures LLC for $1.4 billion to avoid harm to competition in the third-party paid senior living facilities referral services, the Federal Trade Commission said on Friday.

The FTC said in a statement that two of Red Ventures’ largest shareholders jointly own A Place for, the largest provider of such services, and is the second largest provider. (Reporting by Eric Walsh; Editing by Phil Berlowitz)

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