Facebook-Instagram Deal Approved By CA Department Of Corporations

Even though Federal Trade Commission approved Facebook's acquisition of Instagram last week, the social network was still waiting for a California Department of Corporations ?fairness" ruling for the issuance of 23,000 shares to close the deal. It looks like Facebook got the approval, and will be able to close the acquisition of the photo-sharing startup. Mark Leyes, Director of Communications at California Department of Corporations tell us, "The hearing officer concluded the transaction is fair, just and equitable to shareholders of Instagram."

Source: http://feedproxy.google.com/~r/Techcrunch/~3/XeQq136xYfA/

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