Bankrate to divest Caring.com for Red Ventures merger -FTC

WASHINGTON, Nov 3 (Reuters) - Bankrate Inc will divest its Caring.com unit as a condition of its acquisition by Red Ventures LLC for $1.4 billion to avoid harm to competition in the third-party paid senior living facilities referral services, the Federal Trade Commission said on Friday.

The FTC said in a statement that two of Red Ventures largest shareholders jointly own A Place for Mom.com, the largest provider of such services, and Caring.com is the second largest provider. (Reporting by Eric Walsh; Editing by Phil Berlowitz)