Bloomberg News reported on Thursday that the US Justice Department is preparing an antitrust lawsuit to block software maker Adobe Inc’s (ADBE.O) $20 billion bid for cloud-based designer platform Figma.
According to Bloomberg, the lawsuit could be filed as soon as next month.
Adobe responded to the report by stating that it and Figma were in different product areas, with Figma focusing on interactive designs.
“We are having constructive and cooperative discussions with regulators in the United States, the United Kingdom, and the European Union, among others. We continue to anticipate that the transaction will be completed in 2023 “According to a company statement.
The Justice Department did not respond.
After the story broke, Adobe shares fell slightly in after-hours trading.
Adobe, which makes Photoshop, announced in September that it would acquire Figma, despite investor concerns about the high price tag.
