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But antitrust authorities only have to decide whether this deal would hinder competition

Not correct. Now, anti-trust officials at DOJ are signaling "data privacy" as relevant issue in evaluating mergers. Given Google's dominant position with email data, and search, this is only going to enhance their position on access to 'personal data'.

Given the investigation by various agencies, congress, some question the wisdom of "Google" to even pursue this merger. I think anti-trust approval is a significant concern is reflected in the break-up fee. A typical break up fee is 2% ~ 3% and here the break-up fee is higher than 10%. That should tell you something.
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