Getty Images Holdings, Inc (GETY) saw its stock price plunge 6.58% during intraday trading on Tuesday, following the announcement of a $3.7 billion merger with rival Shutterstock (SSTK).

While the merger, structured as a merger of equals, initially sent both companies' shares soaring, concerns emerged over potential antitrust scrutiny given the combined entity's significant market share in the visual content licensing industry. The deal is expected to create a visual content powerhouse under the Getty Images name, with Getty shareholders owning approximately 55% of the combined company.

Despite the potential synergies and cost-saving opportunities highlighted by the companies, investors appear wary of the potential regulatory hurdles the deal may face. The Biden administration has taken a tough stance on antitrust issues, and the merger's announcement comes as the presidency is set to change hands, adding uncertainty to the regulatory landscape.