Newsbrief: Reuters
reports that the U.S. Federal Trade Commission has granted antitrust approval to Facebook's proposed acquisition of Oculus VR, allowing the deal to move forward as planned.
Last month Facebook announced that it had entered into an agreement with the VR company to
acquire Oculus for $2 billion, comprising $400 million in cash and 23.1 million shares of Facebook common stock.
There is also an earn-out potential of $300 million in cash and stock based on "the achievement of certain milestones." The deal is still expected to close in the second quarter of the year.
