Adobe's top lawyer told employees in an internal email to be extra careful when talking about the company's $20 billion proposed Figma acquisition, as antitrust scrutiny of the deal intensifies.
General counsel and Chief Trust Officer Dana Rao also confirmed that the Justice Department's investigation of the transaction is ongoing, and asked staff not to delete anything related to the transaction.
Since announcing the $20 billion takeover in September, Adobe has faced a growing government crackdown from around the world. In addition to the DOJ, the UK's competition authority launched an initial "phase 1" merger inquiry in May. The European Commission is also looking into the deal.
Adobe is required to pay Figma $1 billion if the transaction fails to get regulatory clearance, or if the deal fails to close within 18 months from September 15, 2022, according to a recent SEC filing. That's the middle of March 2024, or roughly 9 months from now.
"Despite the length of the process, we continue to be confident in the underlying facts that support the deal and we look forward to its ultimate approval by the regulatory...
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