Facebook has been officially cleared to start issuing stock for the Instagram acquisition.
A fairness hearing, the last hurdle for Facebook before it could move forward with its Instagram deal, concluded today with the expected approval, a Facebook spokesperson has confirmed.
No other details were released.
The Federal Trade Commission issued a statement last week that it had concluded its investigation. Today's fairness hearing allows Facebook to bypass federal registration, which can cost companies hundreds of thousands of dollars.
The Instagram acquisition was once valued at $1 billion in cash and stock. With Facebook's stock price at $19 … Read more