intercontinental exchange inc said thursday that it will strongly oppose the federal trade commissions move to block the acquisition of black knight inc intercontinental exchange the owner of the new york stock exchange said it is disappointed that the ftc has filed a complaint against the deal but that it is confident about its position this deal would reduce competition in key areas of the mortgage process ultimately raising costs for lenders and homebuyers the ftc said thursday on intercontinental exchange eliminating black knight as a competitor intercontinental exchange agreed to buy software data and analytics company black knight for 131 billion in may but the proposed acquisition requires regulatory clearance while that litigation plays out the company is continuing its work toward closing the acquisition which it expects to complete in the third or fourth quarter of this year intercontinental exchange added on tuesday intercontinental exchange inc and black knight inc said they lowered the proposed merger price and agreed to sell black knights empower loan origination system business to a subsidiary of constellation software inc the current amended merger agreement values black knight at 75 a share down from a previous 80 with the new consideration made up of 68 per share in cash at 1514 et shares of intercontinental exchange fell 24 to 10018 with shares of black knight dropping 2 to 5981