The FTC has sued to stop Edgewell Personal Care from buying shaving upstart Harry’s. The lawsuit to block the deal underscores how unpredictable Washington’s merger policies have become, writes jennifersaba.
The U.S. Federal Trade Commission filed a lawsuit on Feb. 3 to block Edgewell Personal Care from buying Harry’s.
Edgewell is the maker of Schick and Skintimate razors. Harry’s was founded in 2013 and is an online direct-to-consumer razor seller. Edgewell announced in May 2019 plans to acquire Harry’s for $1.4 billion. The FTC said that Edgewell, Harry’s and Proctor & Gamble are the leaders in the U.S. razor market. When Harry’s entered the market, P&G and Edgewell reduced their prices, according to the FTC. The complaint alleges Edgewell would eliminate “important and growing competition” among suppliers if the two companies are combined.
Edgewell Chief Executive Rod Little said in a statement the deal would benefit all stakeholders including customers.
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