Big Financial Information Merger

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The Wall Street Journal reported over the weekend that Intuit is buying the credit score monitoring company Credit Karma for $7.1 billion.

Questions:

  1. What is the merger intended to boost within the Intuit organization?
  2. By how much was the Intuit stock increased at the time of the announcement of Intuit’s quarterly earnings and the word of this merger?
  3. In what areas had Intuit and Credit Karma already been competing?

Source:

Zaveri, P. (2020). Intuit is officially buying credit score company Credit Karma for $7.1 billion, and the stock is spiking. Business Insider.com, Feb. 24 (Retrievable online at https://www.businessinsider.com/intuit-buys-credit-karma-turbotax-ai-2020-2)