You're surely entitled to your opinion. It doesn't mean you're right.
I tend to agree the CMA is pushing some esoteric arguments in their rulings, but I don't thinks deal is at all like Facebook / Giphy.
"A healthy M&A culture" isn't undone by a single deal being pulled, especially when that deal is clearly an anti-competitive one.
Also if anything, Adobe overpaid for Figma given it was one of the last deals before Tech stocks properly melted, so even Adobe shareholders can be happy with this outcome
You are right its not like Facbook/Giphy, it's worse and we aren't talking about a single deal being pulled but multiple.
It's not clearly anti-competitive in fact if anything in the B2B space M&A done by bigger companies is where products go to die and opens up for a whole new set of competitors.
I tend to agree the CMA is pushing some esoteric arguments in their rulings, but I don't thinks deal is at all like Facebook / Giphy.
"A healthy M&A culture" isn't undone by a single deal being pulled, especially when that deal is clearly an anti-competitive one.
Also if anything, Adobe overpaid for Figma given it was one of the last deals before Tech stocks properly melted, so even Adobe shareholders can be happy with this outcome