FTC Approves Facebook (FB) WhatsApp Acquisition

NEW YORK (TheStreet) -- Facebook (FB) was gaining 0.2% to $59.27 in after-hours trading Tuesday following the Federal Trade Commission's approval of the WhatsApp acquisition.

Though the FTC approved the deal, it warned that WhatsApp still has to honor the current privacy commitments made to its users. Facebook settled a privacy probe with the FTC back in 2012.

"We're pleased the FTC has completed its review and cleared our acquisition of WhatsApp. Naturally, both companies will continue to comply with all applicable laws after the transaction closes," Facebook said in a statement.

Due to Facebook's recent selloff the WhatsApp deal, once valued at $19 billion, is now valued at $17.6 billion.

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TheStreet Ratings team rates FACEBOOK INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate FACEBOOK INC (FB) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation."

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