Abnormal movement in US stocks | "Century Merger" falls through; Shutterstock (SSTK.US) plunges nearly 30%, Getty Images (GETY.US) falls over 8%
According to the Zhtng Cijng APP, on Wednesday, as the "Century Merger" fell through, Shutterstock (SSTK.US) plunged nearly 30% in early trading, while Getty Images (GETY.US) fell over 8%. On the news front, Getty Images is exiting its merger plan with Shutterstock due to regulatory barriers in the UK, canceling the major deal. These barriers would have required the mandatory sale of Shutterstock's editorial operations department. It is understood that Getty ultimately believed that selling Shutterstock's editorial operations would significantly weaken the value of the deal, leading to the cancellation of the merger.
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