Procter & Gamble has termed off its planned takeover of women’s razor startup Billie, citing regulatory motion to block the deal as anti-aggressive.
The Federal Trade Commission filed a criticism previous month alleging the deal was “likely to final result in significant damage by removing competitiveness among the market chief and an essential and escalating head-to-head competitor.”
P&G owns the Gillette razor brand name even though Billie has found a market area of interest by marketing discounted women’s razors and attacking the field for its “pink tax” exercise of charging additional for women’s goods.
“We were being dissatisfied by the FTC’s conclusion and maintain there was remarkable likely in combining Billie with P&G to far better serve additional consumers all around the planet,” the companies mentioned in a joint statement on Tuesday.
However, they additional, “after due thought, we have mutually agreed that it is in both of those companies’