Cantaloupe Drops Following FTC Review Report on 365 Retail Agreement

Cantaloupe Inc. Stock Reaction: Cantaloupe Inc. (CTLP) shares fell by 1.3% following a report on the Federal Trade Commission's (FTC) review of its planned sale to 365 Retail Markets.

FTC Investigation Concerns: The FTC is investigating the deal due to third-party complaints regarding interoperability and bundling, with concerns that the merger may reduce competition in micro markets.

Second Request from FTC: Cantaloupe disclosed that it received a second request from the FTC regarding the sale, which is expected to close in the first half of next year, a delay from the original forecast of late 2025.

Acquisition Details: In June, Cantaloupe agreed to be acquired by 365 Retail Markets for an equity value of $848 million, with 365 Retail paying $11.20 per share for Cantaloupe.