Adobe has abandoned its $20 billion Figma takeover due to opposition from antitrust regulators, particularly those in the U.K. and EU. Figma CEO Dylan Field says he’s “disappointed” and both companies say they disagree with the watchdogs’ reasons for opposing the deal. As my colleague Jessica Mathews writes in today’s Term Sheet newsletter, the episode is bad news for private market investors, as the deal was supposed to prove that good exits were still possible.
However, ‘tis the season to be jolly—and for the main players in this scenario, the outcome is in many ways a positive one.
