Adobe drops $20bn takeover of Figma after EU and UK regulator concerns

UK's CMA said deal would threaten competition in the product design, image editing and illustration markets

Adobe has abandoned its $20bn (15.8bn) takeover of its smaller rival Figma, after European and UK regulators raised concerns that it would eliminate competition in the product design software market.

The Photoshop owner, which dominates the market with products including Illustrator and Acrobat Reader, said the two companies had come to a joint assessment that there was no clear path" to regulatory approval.