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Investing.com -- ServiceNow (NYSE:NOW) Inc.’s planned $2.85 billion acquisition of artificial intelligence company Moveworks Inc. is under an in-depth antitrust review by the U.S. Justice Department.
The companies have received a second request for information from antitrust officials, according to a report from Bloomberg, citing people familiar with the matter who asked not to be identified because the situation is not public. Both firms must respond to this request before the deal can proceed.
The Justice Department launched the detailed investigation in June. Such in-depth probes affect only a small percentage of deals but can extend the regulatory approval process by months or even more than a year.
If regulators find evidence that the acquisition could harm competition, they might file a lawsuit seeking to block the transaction.
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