Verisk announced that it has terminated its agreement to acquire AccuLynx after the Federal Trade Commission did not complete its review by the contractual deadline. As a result, Verisk will redeem $1.5 billion of acquisition-related senior notes under a mandatory redemption provision.

The company reaffirmed its capital allocation strategy and long-term growth outlook, while noting that AccuLynx disputes the termination and Verisk plans to defend its position.

Source: GlobeNewswire