FTC clears Zillow’s $1.8 billion acquisition of Trulia, deal could close next week (Taylor Soper/GeekWire)

Seattle-based online real estate company Zillow announced Friday afternoon that it plans to close its $1.8 billion acquisition of San Francisco-based Trulia as early as next Tuesday. Zillow CEO Spencer Rascoff. Zillow noted today that the Federal Trade Commission has completed its investigation after the agency submitted a second request in November to  review any potential anti-trust violations . The deal was originally announced  this past July and shareholders approved the deal one month later . But Zillow delayed the merger multiple times after the FTC asked to further investigate the deal. The deal was reported to be worth $3.5 billion in July. But based on the current share values of each company, the deal is now worth about $1.8 billion. The acquisition will bring together two long-time rivals and create a powerhouse in the online real estate industry. Zillow has  argued  that the blockbuster deal will benefit the industry, and in a letter to real estate partners, Zillow vice president Curt Beardsley wrote  that the deal would lead to more innovation, improve listing infrastructure and empower consumers with more information. “We believe this is a tremendous opportunity to combine resources for innovation,” he wrote. Trulia CEO Pete Flint In response to anti-trust concerns about the merger, CEO Spencer Rascoff told CNN in July that a combined Zillow and Trulia company would control just 4 percent of the overall real estate marketing spend in the U.S. “Most advertising still occurs offline; it hasn’t migrated to the Internet yet,” he said. Pete Flint will remain as CEO of Trulia, which will continue to operate as a standalone brand in the Zillow family. He will join the board, along with another representative from Trulia

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FTC clears Zillow’s $1.8 billion acquisition of Trulia, deal could close next week (Taylor Soper/GeekWire)

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