Procter & Gamble has named off its prepared takeover of women’s razor startup Billie, citing regulatory motion to block the deal as anti-competitive.
The Federal Trade Commission filed a criticism past month alleging the deal was “likely to outcome in significant damage by getting rid of competitiveness among the sector chief and an essential and escalating head-to-head competitor.”
P&G owns the Gillette razor model when Billie has identified a sector area of interest by selling discounted women’s razors and attacking the marketplace for its “pink tax” practice of charging additional for women’s products and solutions.
“We have been unhappy by the FTC’s determination and retain there was interesting potential in combining Billie with P&G to superior serve additional individuals all over the earth,” the corporations explained in a joint assertion on Tuesday.
Even so, they extra, “after owing thought, we have mutually agreed that it is in each companies’ greatest