FTC Sues To Block Edgewell Personal Care - Harry's Merger

(RTTNews) - The U.S. Federal Trade Commission said it authorized staff of the Bureau of Competition to file suit to enjoin Edgewell Personal Care Co.'s (EPC) proposed $1.37 billion acquisition of its competitor, Harry's Inc.

The commission's complaint alleged that the proposed combination would eliminate one of the most important competitive forces in the shaving industry.

Responding to the FTC Decision, Edgewell said that it continues to believe the combination of two companies would bring together complementary capabilities for the benefit of all stakeholders, including customers. The company will review the FTC's decision and respond in due course.

"We are disappointed that the FTC is attempting to block our combination with Edgewell and are evaluating the best path forward," Jeff Raider and Andy Katz-Mayfield, Co-Founders and Co-CEO's of Harry's, Inc.