Regulatory Headwinds in Europe Lead to Adobe and Figma's $20B Deal Demise

Adobe abandoned its $20 billion deal to acquire Figma due to concerns raised by European regulators about potential future competition between the two companies. The European Commission and the Competition and Markets Authority expressed worries that the deal could harm competition and innovation in the global markets. Adobe's general counsel, Dana Rao, stated that while there was no current competition between the two companies, regulators emphasized the importance of considering future competition in antitrust analysis. After evaluating the situation, both Adobe and Figma decided to halt the deal, as continuing the fight was deemed not worth it.