Shares of Adobe Inc. (ADBE) climbed 1.9% in premarket trading Monday after the software company and design tools maker Figma said they have agreed to terminate the $20 billion merger agreement. Adobe said the companies agreed that “there is no clear path” to receive the necessary regulatory approvals from the European Commission and the U.K. Competition and Markets Authority. CMA said last month that it saw a “substantial lessening of competition” from the deal, which was originally announced in September 2022. “Adobe and Figma strongly disagree with the recent regulatory findings, but we believe it is in our respective best interests to move forward independently,” said Adobe Chief Executive Shantanu Narayen. Adobe’s stock has soared 73.7% year to date through Friday, while the S&P 500 has gained 22.9%.