Tag: Competition

The Federal Trade Commission has filed an administrative complaint challenging a proposed joint venture between Peabody Energy Corporation and Arch Coal. The transaction would combine their coal mining operations in the Southern Powder River Basin, located in northeastern Wyoming. The admininstrative complaint alleges that the transaction will eliminate competition between Peabody and Arch Coal, which are the two major competitors in the market for thermal coal in the Southern Powder River Basin, and the two largest coal-mining companies in the United States. This civil case seeks a temporary restraining order and preliminary injunction enjoining the defendants from consummating their joint venture. The Commission votes to issue the administrative complaint and to authorize staff to seek a temporary restraining order and preliminary injunction were both 4-1. The administrative trial is scheduled to begin on Aug. 11, 2020.

The Federal Trade Commission authorized staff of the Bureau of Competition to file suit to enjoin Edgewell Personal Care Company’s proposed $1.37 billion acquisition of its key 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. The loss of Harry’s as an independent competitor would have removed a critical disruptive rival that has driven down prices and spurred innovation in an industry that was previously dominated by two main suppliers, one of whom is the acquirer. On Feb. 10, 2020, the FTC issued a statement on the parties’ announcement that they had abandoned the acquisition.