Clearing key obstacles! Alphabet Inc. Class C (GOOGL.US) $32 billion acquisition of Wiz approved by US Justice Department after antitrust review.

Alphabet Inc. Class C, a subsidiary of Alphabet (GOOGL.US), has cleared a key obstacle in its $32 billion acquisition of the cybersecurity company Wiz Inc.: the U.S. government has announced that it will end its investigation into the acquisition. Earlier reports in June stated that the U.S. Department of Justice (DOJ) had launched a thorough investigation into the deal after the two companies first announced their merger in March this year. The decision date for the termination of the review under the "early termination process" was marked as October 24th and has been published on the Federal Trade Commission (FTC) website. Wiz CEO Assaf Rappaport confirmed on Tuesday at an event that the DOJ has completed its review, but the deal is still undergoing scrutiny by other antitrust regulatory agencies. On non-working days, a spokesperson for Alphabet Inc. Class C did not immediately respond to a request for comment. The approval of the "early termination review" by U.S. antitrust agencies means that their review work is no longer an obstacle for companies to complete merger deals. However, the timing of the termination of this review is somewhat unique - the FTC had previously stated that it would not approve "early termination reviews" during government shutdowns. The FTC is responsible for its own and the DOJ's related review processes. Last Friday, the agency also approved an early termination review of an acquisition case by Pfizer Inc. (PFE.US). Although the notice of the termination of the review for the deal between Alphabet Inc. Class C and Wiz was dated earlier, it was only published on the FTC website after the notice for the Pfizer Inc. case. The DOJ's decision to end the review of the Wiz acquisition provides a respite for Alphabet Inc. Class C, which is currently facing global antitrust scrutiny. Following two rounds of independent hearings, a U.S. judge has ruled that this tech giant illegally monopolizes the online search and display advertising technology market. A federal judge in Virginia will soon decide whether to force Alphabet Inc. Class C to sell off part of its advertising technology business.