(Constellation), a provider of mortgage-related tools and software. I am a mortgage specialist, period. Following the completion of this merger, the mortgage lending and borrowing process will become more efficient and reduce overall costs for ICE in the future. Units: Percent, Not Seasonally Adjusted Frequency: Daily Notes: Optimal Blue Mortgage Market Indices™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. The deal would drive up costs, reduce innovation, and reduce lenders. Optimal Blue Financial Services Plano, TX Blend Software Development San Francisco, CA. However, it has come to my attention that after announcements by Black Knight to divest and sell its Empower loan origination (LOS) and Optimal Blue product pricing engine (PPE) software products to a single Canadian company known as Constellation Software Inc. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. Optimal Blue's live modeling functionality and exclusive Shock Analysis tools enable lenders to easily compare current hedge positions to modeled position and: Maintain. S. Intercontinental Exchange (ICE) has finalized its nearly $12 billion acquisition of Black Knight. mortgage data vendor Black Knight will sell its Optimal Blue business for $700 million, shedding a second unit to soothe regulatory concerns over its proposed buyout by NYSE-owner. iFOLIO. Polly. Our technology solutions enable lenders to originate more loans, reduce origination costs, and shorten the time to close, all while ensuring the highest levels of compliance, quality and efficiency. | Optimal Blue, a division of Black. S. 11, as well as its gross leverage ratio to 3. Our technology solutions enable lenders to originate more loans,. Optimal Blue | 10,866 followers on LinkedIn. | Optimal Blue, a division of Black. | Optimal Blue, LLC, operates the. Through advanced, yet turnkey integrations with +70 mortgage technology vendors, we have embedded the power of Optimal Blue inside of whatever. Fannie Mae. A trio of top leaders at Optimal Blue have exited the company several weeks after Constellation Software closed on the purchase from Black Knight, the new owners confirmed. Let us help transform your operations to achieve your strategic goals and. Optimal Blue. mortgage industry and is fully integrated with the CompassPoint platform. (2022-09-07 | NYSE:BKI) Optimal Blue, a Division of Black Knight, Adds ICE Mortgage Rate Lock Index Futures to CompassPoint, Leading Hedge Analytics and MSR Valuation Platform. Optimal Blue | 10,850 followers on LinkedIn. "ICE's determination to move forward with the purchase, even being willing to divest Empower and Optimal Blue, implies that they see significant vertical integration pricing advantages of becoming the dominant player in software services for both mortgage origination and servicing," the letter said. Pros and Cons. 0. – Sept. For reprint and licensing. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. ICE closed an $11. LendingTree’s online marketplace connects consumers with multiple lenders, empowering them as they. Brad Finkelstein. JACKSONVILLE, Fla. MAXEX is an approved seller to Fannie Mae, a government agency that provides liquidity to low- and moderate-income mortgage borrowers. 9% decrease in. "As the largest distributor of Optimal Blue via our network, we remain very excited about the value and efficiencies that the combined ICE and Black Knight entities will bring to the end consumer as well as to other stakeholders across the mortgage ecosystem. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. | Optimal Blue, a division of Black. Optimal Blue | 10,144 followers on LinkedIn. Share. Brad Finkelstein. Together, we transform, streamline and automate industries to connect our customers to opportunity. At ICE Mortgage Technology, we are transforming and digitizing the U. has been climbing since borders opened post-Covid, with 30,662 encountered in the 2021 fiscal year and 63,927. Some in the industry are concerned that ICE will now dominate the mortgage technology market. Going to Las Vegas for ICE Experience 2022? The Optimal Blue team wants to see you! Our team is passionate about end-to-end, digital mortgage experiences. 6 called on regulators to reject the transaction because ICE, which also owns the New York Stock Exchange among other entities, already poses broad systemic risks to the economy. S. Brad Finkelstein. Both are most popular in their respective areas. Optimal Blue, a division of Black Knight, delivers powerful solutions for the secondary market. In May,. "Importantly, Optimal Blue is still fully available to ICE's customers with ICE continuing to capture value through an existing revenue share arrangement for existing and new customers," he said. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. This means that Optimal Blue generated around $100 million in adjusted EBITDA. com ICE Investor Contact: Katia Gonzalez katia. 21, 202330-year fixed mortgage rate: 7. S. (or the proposed divestiture of Black Knight’s Optimal Blue business or. ICE and Black Knight’s agreement to sell its product and pricing engine unit Optimal Blue business leaves the FTC with a weak case as it remedies the remaining horizontal overlap cited in the. Under terms of the divestiture agreement, Constellation will acquire Black Knight’s Optimal Blue business for $700 million. ICE had valued the transaction at $85 per Black Knight share. The Federal Trade Commission is expected to challenge the $13 billion takeover of mortgage data company Black Knight by financial services giant Intercontinental Exchange. Shares of Black Knight Inc. 7 billion acquisition of mortgage software firm Black Knight. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. Optimal Blue Adds ICE Mortgage Rate Lock Index Futures to CompassPoint. Plano, Texas. ICE completed the. EST 2 Min Read. So we think we can bring a lot of those. ICE Mortgage Technology announced plans to. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. linkedin. | Optimal Blue, LLC, operates the. Optimal Blue Financial Services Plano, TX. | Optimal Blue, LLC, operates the. Impo rtantly, Optimal Blue is still fully available to ICE's customers, with ICE continuing to capture value through an existing revenue share arrangement for existing and new customers. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. leavell@ice. ÐÏ à¡± á> þÿ 4 “ þÿÿÿ ] ^ _ ` a b c d e f g h i j k l m n o p q r s t u v w x y z { | } ~ € ‚ ƒ „. Toronto-based Constellation Software will pay $700 million for. So we think we can bring a lot of those. Contacts. Optimal Blue delivers the industry's leading Product, Pricing and Eligibility (PPE) engine that prices over 40% of locks in the U. May 17, 2022. Pleasanton, CA. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. EPPS provides only the most basic functionalities of aggregating and displaying mortgage rate pricing. Going to Las Vegas for ICE Experience 2022? The Optimal Blue team wants to see you! Our team is passionate about end-to-end, digital mortgage experiences. ICE’s Encompass Product and Pricing Service PPE (EPPS) is a close second, it notes. 45%, for an average of 6. Together, we transform, streamline and automate industries to connect our customers to opportunity. A live audio webcast of the conference call will be available on the company’s website at in the investor relations section. 0682 shares of ICE stock per Black Knight share. the possibility that the proposed divestitures of Black Knight’s Optimal Blue business. The companies expect to complete the divestiture of Empower and Optimal Blue 20 days after completing the merger. | Optimal Blue, a division of Black. Optimal Blue’s BESTX™ MI is the most efficient way for loan officers to find the mortgage insurance option that. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. The Federal Trade Commission is taking action to block the proposed merger between the nation’s largest provider of home mortgage loan origination systems and other key lender software tools, Intercontinental Exchange, Inc. 25% in August, the highest level in more than 20 years, before settling to 7. CONNECTIONS. | Optimal Blue, a division of Black. ICE Mortgage Technology, part of Intercontinental Exchange, Inc. Harness the power of the industry’s most widely used mortgage pricing engine – anytime, anywhere. Get 7 Days Free Sign In Sign In TopicsOptimal Blue | 10,087 followers on LinkedIn. S. Intercontinental Exchange, Inc. housing economy HousingWire. Intercontinental Exchange (ICE) and Black Knight announced Monday they have agreed to sell Black Knight's mortgage pricing platform, Optimal Blue, to a subsidiary of Constellation Software. | Optimal Blue, a division of Black. 5% to $74. Intercontinental Exchange (ICE) can now move ahead with its $12 billion takeover of mortgage software company Black Knight after the Federal Trade Commission dismissed a court case aiming to halt. So we think we can bring a lot of those. Visit Company Page. 7 billion. Exclusive Access to Featured Speakers, Breakout Sessions, and Trainings. Stockhouse. At ICE Mortgage Technology, we are transforming and digitizing the U. For each release, I work with. Fast forward: Then, last month, ICE also agreed to sell Black Knight's Optimal Blue product pricing and eligibility engine for $700 million. 09/15/2023 - 08:30 AM . Black Knight‘s Optimal Blue released a product comparison feature in the company’s cloud-based. This Marketplace Platform connects lenders, investors and vendors with comprehensive secondary. Published July 17, 2023 Getty Images Key Takeaways ICE and Black Knight are selling Black Knight's Optimal Blue business. Optimal Blue | 11,083 followers on LinkedIn. Optimal Blue, Dark Matter Technologies, Mortgage Builder, ReverseVision, which is a reverse mortgage LOS and a document storage business called Axacore. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. POS PARTNER POS NAME LIVE RATESTAR® RATE CARD USER GUIDE BeSmartee BeSmartee X CloudvirgaTM (A Stewart Company) Consumer & Originator Point-of-Sale X FinastraTM Originate Mortgagebot (Formerly MortgagebotPOSTM) X Mortgage Coach ®Mortgage Coach X X. September 7, 2022, 1:05 PM UTC. It can be easy to over customize Encompass because of its flexibility. ICE rival Black Knight made its competing of Optimal Blue Mortgage Market Indices (OBMMI) available on Nasdaq’s Global Index Data Service (GIDS) platform in July 2020. Intercontinental Exchange Inc. The transaction closed on Sept. Black Knight ‘s Optimal Blue released a product comparison feature in the company’s cloud-based Loansifter product, pricing and eligibility (PPE) engine for mortgage brokers. Optimal Blue. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. Plaid. (NYSE: ICE) and Black Knight, Inc. 7, 2022 – Black Knight, Inc. Optimal Blue | 10,109 followers on LinkedIn. | Optimal Blue, LLC, operates the. The third-largest loan origination system provider, Mortgage Cadence, sees an opportunity to pick up business if the merger between No. (ICE), Keefe, Bruyette & Woods (KBW. It can be easy to over customize Encompass because of its flexibility. May 24, 2022, 11:20 a. | Optimal Blue, a division of Black. To satisfy antitrust regulators, ICE divests itself of Black Knight's loan origination and mortgage pricing business, but gets. First up, Ellie Mae’s mortgage loan origination software platform, Encompass, offers a straightforward, web-based service for loan officers. Optimal Blue offers a SaaS marketplace platform connecting mortgage originators and investors. In addition to selling Empower and Optimal Blue, FTC consent order would require ICE and Black Knight to seek prior approval before acquiring an interest in another loan origination system. February 14, 2023, 4:12 p. " In particular, the FTC cited competition in product and pricing engines between Black Knight's Optimal Blue and the internal technology embedded in. EST 2 Min Read. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. AI Foundry. 44%, pushing the spread with mortgage rates back above 3%,. But MERS is now getting a competitive threat from Blue Sage Solutions, First American Docutech and Figure Technologies called Digital Asset Registration Technologies. The companies declined to answer questions about the revised terms or the asset sale, including whether the reduced compensation was related to. com (212) 323-8587 media@ice. (NYSE: BKI), a software, data and analytics company that serves the housing finance continuum, including real estate data, mortgage lending and servicing, as well as the secondary markets, today. CompassPoint is offered by Optimal Blue, a leader in end-to-end technology solutions designed specifically for the secondary marketing industry. S. Press Releases | September 6, 2022; AMOCO Federal Credit Union Selects the Empower LOS, MSP Servicing System and Suite of Integrated Solutions. 1 ICE Mortgage Technology and No. (NYSE: BKI), a software, data and analytics company that serves the housing finance continuum, including real estate data, mortgage lending and servicing, as well as the secondary markets, today. Optimal Blue offers a SaaS marketplace platform connecting mortgage originators and investors. Using this service, lenders can get rate sheets faster, keep. Optimal Blue | 10,801 followers on LinkedIn. Cookies are used to offer you a better browsing experience. New innovation actually comes from better integrations, so by creating even more openness within the Black Knight products, we will make it easier for other systems to integrate. Spotify. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. Dark Matter Technologies, which completed the acquisition of Black Knight’s Empower and Optimal Blue last week, will be working towards a smooth transition over to Constellation Software with. 9X on a pro forma. Anow. The Federal Trade Commission is taking action to block the proposed merger between the nation’s largest provider of home mortgage loan origination systems and other key lender software tools, Intercontinental Exchange, Inc. | Optimal Blue, a division of Black. Optimal Blue has made it easier than ever before to connect your mortgage technology stack, ensuring accurate pricing and the best secondary marketing automation is always available to your users. ICE and Black Knight’s agreement to sell its Optimal Blue business leaves the FTC with a weak case as it remedies the remaining horizontal overlap cited in the FTC’s complaint with a. mortgage and housing markets. Amrock. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. July 17 (Reuters) - U. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. Optimal Blue Status Center Home Forums . Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. finkelstein@arizent. m. residential mortgage process, from consumer engagement through loan registration. 15, 2020 – Black Knight, Inc. | Optimal Blue, a division of Black. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. residential mortgage process, from consumer engagement through loan registration. We are committed to making sure our clients and other mortgage professionals up to date on today's leading technology, the latest developments and new stories that feature our company, and the evolving mortgage. – Sept. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, and Black Knight. The proposed settlement ensures Black Knight’s divestiture of Empower and Optimal Blue, two businesses that provide critical services in the. General; KMU Students and Alumni; Market Solutions; Education; Idea Hub Status Center. 78%, climbing 37 basis points (bps) from the end of. This data is aggregated daily and split in informative and novel ways, covering not only conventional 30- and 15-year fixed. Plaid enables applications to connect with users. OPTIMAL BLUE PPE. Capabilities include product, pricing and eligibility, hedge analytics, loan trading, MSR valuation, social media monitoring and publishing, and counterparty oversight. 07% at the end of the month; Overall rate lock volumes were down for the third consecutive month, falling 1. arguing that the market domination gained by ICE via the merger would give too pricing power to one company. A possible sale of Black Knight's product and pricing engine unit Optimal Blue could be the key that unlocks the Intercontinental Exchange transaction, said Ryan Tomasello, an analyst at Keefe, Bruyette & Woods. ICE aka EllieMae (LOS & Other Systems) Start automating your. General; KMU Students and Alumni; Market Solutions; Education; Idea Hub Status Center. Regulators fire warning shot over bow of mortgage comparison sites. | Optimal Blue, a division of Black. Let us show you what our integrated technology, data and analytics solutions can do for your business. A live audio webcast of the conference call will be available on the company’s website at in the investor relations section. com (678) 981. At ICE Mortgage Technology, we are transforming and digitizing the U. Verified User. "ICE's determination to move forward with the purchase, even being willing to divest Empower and Optimal Blue, implies that they see significant vertical integration pricing advantages of becoming the dominant player in software services for both mortgage origination and servicing," the letter said. ICE’s Encompass Product and Pricing Service PPE (EPPS) is a close second, it notes. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, today announced that, in connection with its acquisition of Black Knight, it has completed the sale of Black Knight’s Optimal Blue and. 38% for the month, 17 basis points lower than March's average ; The 10-year Treasury yield ended April at 3. (“Constellation”) (TSX: CSU) announced today that its Perseus operating group (“Perseus”) completed the acquisition of the Optimal Blue business and the Empower loan origination system (LOS) business from Intercontinental Exchange, Inc. At a key moment in Intercontinental Exchange's proposed purchase of Black Knight, the leadership at ICE Mortgage Technology is changing as Joe Tyrrell, the unit's president, is leaving the company. After the Optimal Blue agreement, the FTC agreed Aug. Optimal Blue Status Center Home Forums . Arch Mortgage Insurance. ARMCO. 2 Black Knight goes through. | Optimal Blue, LLC, operates the. JACKSONVILLE, Fla. 1 percent) and the Producer Price Index (-. S. Optimal Blue delivers the industry's leading Product, Pricing and Eligibility (PPE) engine that prices over 40% of locks in the U. 25% in the first week of April before finishing at 6. That’s far from a certainty, given the deal's regulatory issues. Under. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, and Black Knight, Inc. | Optimal Blue, a division of Black. Optimal Blue Mortgage Market Indices™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. bradley. Optimal Blue | 9,926 followers on LinkedIn. Optimal Blue | 10,569 followers on LinkedIn. Encompass Product & Pricing Service ™ is a robust pricing engine integrated into the Encompass Digital Mortgage Solution. Thoma Bravo took Ellie Mae private in a $3. Optimal Blue | 10,170 followers on LinkedIn. With the completion of the transaction, Black Knight stockholders expect to. When the data is submitted, the pricing engine returns different loan pricing scenarios based on a borrower’s unique profile. Encompass has its own, less robust, PPE and the customer overlap could also raise regulatory concerns, he added. However, Black Knight only. The 30-year fixed rate for conventional loans, which hit 7. 9% decrease in purchase volume The Optimal Blue Mortgage Market Indices 30-year conforming rate rose 33 basis points during the month to close at 7. OPTIMAL BLUE PARTNER NETWORK Largest secondary marketing network, turnkey connections with leading technology vendors. Originations Editor, National Mortgage News. JACKSONVILLE, Fla. ICE and Black Knight entered into a divestiture agreement in connection with efforts to secure regulatory clearance of ICE’s proposed acquisition of Black Knight, a $13. Optimal Blue | 9,985 followers on LinkedIn. Optimal Blue | 9,948 followers on LinkedIn. gonzalez@ice. Just weeks after published reports that Optimal Blue was up for sale, fintech giant Black Knight Inc. Black Knight acquired Optimal Blue, a company providing secondary marketing automation. Optimal Blue | 9,866 followers on LinkedIn. Optimal Blue | 9,866 followers on LinkedIn. 323 percent lower on average than conventional in 2023. Optimal Blue | 10,180 followers on LinkedIn. 5% from July, driven by a 1. In addition to both firms’ decision to sell Empower and Optimal Blue to address antitrust concerns, ICE and Black Knight amended their deal terms to reduce the valuation of Black Knight to $11. BC Mortgage Agent serving Vancouver Island - Victoria BC Mortgages, Mortgage Broker Rates, Mortgage Broker Calculators, Find a Mortgage. Brad Finkelstein. The companies expect to complete the divestiture of Empower and Optimal Blue 20 days after completing the merger. In August 2023, the FTC approved a proposed consent order to resolve antitrust concerns surrounding Intercontinental Exchange, Inc. By Niket Nishant. com (212) 656-2490 Damon Leavell damon. Your guide to trusted BBB Ratings, customer reviews and BBB Accredited businesses. “We. Begin your automation journey by automating the appraisal ordering process. | Optimal Blue, a division of Black. At ICE Mortgage Technology, we are transforming and digitizing the U. A divesture of Black Knight‘s product and pricing engine unit Optimal Blue is a feasible path to guarantee the merger deal with Intercontinental Exchange Inc. February 14, 2023, 4:12 p. Get directions. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, and Black Knight, Inc. brad-finkelstein-8b2b9a5/. [email protected] User. S. | Optimal Blue, a division of Black. m. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. Familiar with Ellie Mae/ICE Mortgage Technology web portals, TPO Connect, Webcenter, Consumer Connect, Blend, Simple Nexus, MSP, Simple Nexus, Meridian Link, Optimal Blue and Cloud Virga. Together, we transform, streamline and automate industries to connect our customers to opportunity. Black Knight acquired Optimal Blue, a company providing secondary marketing automation. | Optimal Blue, LLC, operates the. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. the FTC said that the merger would push customers to use ICE mortgage services and products. Optimal Blue | 9,953 followers on LinkedIn. Empower, Optimal Blue and all the other current offerings. Under the proposed order, Black Knight's Optimal Blue and Empower businesses will be sold to Constellation Software (OTCPK:CNSWF). LendingTree’s online marketplace connects consumers with multiple lenders, empowering them as they. By streamlining the process, mortgage originators and borrowers can compare rates effortlessly with the option to lock the rates for up to 60 days. 22% on Wednesday, compared to 7. To support the acquisition, ICE has agreed to divest Black Knight’s Optimal Blue and Empower loan origination system (LOS) businesses to subsidiaries of Constellation Software – which are. . 1 deadline for Black Knight stockholders to choose the. – Sept. , September 05, 2023--Intercontinental Exchange, Inc. Optimal Blue | 9,922 followers on LinkedIn. (NYSE: BKI) today announced that they have entered into an Agreement Containing ConOptimal Blue | 10,974 followers on LinkedIn. According to Black Knight’s Optimal Blue Mortgage Market Indices, the standard 30-year mortgage rate pushed past previous month rising above the 7. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. 06 Sep 2023. residential mortgage process, from consumer engagement through loan registration. Divestiture contingent on closing of ICE’s acquisition of Black Knight Intercontinental Exchange, Inc. website maker Intercontinental Exchange Inc. | Optimal Blue, a division of Black. S. By contrast, Black Knight’s Optimal Blue PPE is a standalone commercial PPE available on more than a dozen LOS platforms. With a pricing engine, lenders can easily. com (904) 854-5043Mortgage product and pricing engine from Optimal Blue; A digital point-of-sale solution to streamline the mortgage application process; A digital close solution with eDelivery and eSigning. A . Kevin Foley, CFA, Director of Product Management at Optimal Blue, highlights a few new benefits with the new Encompass Partner Connect [email protected]. Visit Company Page. 475 billion in sales again this year after buying out partners in Optimal Blue. residential mortgage process, from consumer engagement through loan registration. on Monday announced an agreement to sell Black Knight’s Optimal Blue business to a subsidiary of Constellation Software Inc. A pilot automation can be built and deployed in as little as 3-4 weeks, immediately adding efficiency to an organization and proving out the value of process automation. Black Night’s Optimal Blue is sold. & PRICING. Optimal Blue prices and locks 40% of U. 95% for FHA loans closed in the 30 days ending August 30, 2023, according to Optimal Blue's Mortgage Market Indices. Comergence by Optimal Blue | 403 followers on LinkedIn. Optimal Blue's Marketplace Platform provides integrated secondary marketing solutions to more than 2,000 clients nationwide, including hundreds of Ellie. 5, and subsequently in separate deals, Intercontinental Exchange had to sell the Empower loan origination system and Optimal. Comergence by Optimal Blue provides the mortgage industry with the most. Adeptive Software. brad-finkelstein-8b2b9a5/. This is the second deal to sell a Black Knight subsidiary to Constellation to address the Federal Trade Commission’s antitrust concerns about ICE’s acquisition of Black Knight. finkelstein@arizent. The Commission voted 3-0 to accept the consent order, according. Black Knight’s Optimal Blue product, pricing and. | Optimal Blue, LLC, operates the. as does ICE Mortgage Technology, provider of the Encompass loan origination system. , the FTC has filed a joint stipulation for dismissal alongside. Leading provider of actionable data and secondary marketing technologies to price, lock, hedge and trade mortgages. 2, 2014, and renamed Black Knight Financial Services. 97% on Wednesday. That is on top of the "unrivaled power" ICE would have in the U. EDT 1 Min Read. 72 on Monday, after gaining more than 12% since the deal was announced in May 2022.