President Trump signs executive order revoking previous competition and antitrust enforcement policies, clearing path for increased corporate consolidation and monopolistic practices without federal oversight.
The Department of Justice approved Cigna’s $52 billion acquisition of Express Scripts, one of the three largest pharmacy benefit managers, completing the deal announced in March 2018. Assistant Attorney General Makan Delrahim stated that after a six-month investigation reviewing over two …
On May 4, 2018, Axon Enterprise acquired VieVu LLC, its primary competitor in the police body camera industry, for $7.1 million ($4.6 million cash and $2.5 million in stock) plus performance-based milestone payments of 141,000 additional shares. The acquisition eliminated meaningful competition in …
CVS Health announced its $69 billion acquisition of health insurer Aetna (with debt, $77 billion total), marking the largest healthcare merger in U.S. history and accelerating vertical integration in pharmacy benefit management. Under the deal, Aetna shareholders would receive $145 in cash plus …
Academi (the entity formerly known as Blackwater, then Xe Services) merged with rival private military contractor Triple Canopy to form Constellis Holdings, representing the third major corporate transformation of the Blackwater organization in seven years. The merger consolidated multiple private …
Oracle Corporation completed its acquisition of Sun Microsystems on January 27, 2010, for approximately $7.4 billion ($9.50 per share in cash), gaining control of critical software infrastructure including the Java programming language, MySQL open-source database, and Sun’s hardware systems …
Oracle Corporation completed its acquisition of PeopleSoft on December 13, 2004, for approximately $10.3 billion ($26.50 per share), concluding an 18-month hostile takeover battle after defeating the Department of Justice’s antitrust challenge. The final purchase price represented more than …
The U.S. Department of Justice filed an antitrust lawsuit on February 26, 2004, seeking to block Oracle Corporation’s proposed hostile acquisition of PeopleSoft, alleging that the merger would substantially reduce competition in the enterprise software market and result in higher prices, less …
Oracle Corporation launched an unsolicited hostile takeover bid for PeopleSoft on June 6, 2003, with an initial cash tender offer of $16.00 per share, valuing the enterprise software competitor at approximately $5.1 billion. The timing proved particularly aggressive, as Oracle announced the bid only …
On October 30, 1984, President Ronald Reagan signed the Cable Communications Policy Act of 1984, fundamentally deregulating the cable television industry and setting the stage for massive media consolidation. Written and championed by conservative Senator Barry Goldwater of Arizona, the act amended …
President Jimmy Carter signed the Airline Deregulation Act into law on October 24, 1978, marking the first time in U.S. history that an industry was deregulated and removing federal control over airline fares, routes, and market entry. In 1977, Carter had appointed Cornell economics professor Alfred …
The U.S. Navy awards Electric Boat the contract to design and build the world’s first nuclear-powered submarine, USS Nautilus (SSN-571), marking a pivotal moment in the military-industrial complex’s evolution. The contract launch demonstrates how Cold War nuclear competition drives …
The Columbia Phonograph Broadcasting System (later CBS) is founded in New York, initially as a network of 16 radio stations, just months after the Radio Act of 1927 establishes federal licensing. William Paley’s family purchases controlling interest in 1928 for $400,000, and Paley transforms …
The holding company structure proliferates across American industry during the 1920s, enabling unprecedented corporate consolidation while evading antitrust enforcement and state regulation. Delaware’s permissive incorporation laws, offering minimal oversight and maximum management discretion, …
Pierre du Pont assumes the presidency of General Motors in December 1920 and installs Alfred P. Sloan as operating head, consolidating DuPont family control over the nation’s largest automaker after DuPont Company acquires 23% of GM stock. The arrangement creates a paradigmatic example of …
In early 1901, J.P. Morgan, the country’s most powerful banker, purchased Andrew Carnegie’s Carnegie Steel Corporation for $500 million and merged it with nine other steel companies to form the United States Steel Corporation—the world’s largest corporation and first billion-dollar …
The United States Steel Corporation is incorporated with authorized capitalization of $1.4 billion, becoming the first billion-dollar corporation in history and controlling 60% of the nation’s primary steel capacity. Financier J.P. Morgan orchestrates the massive consolidation, fusing together …
On February 25, 1901, J.P. Morgan incorporated the United States Steel Corporation with an authorized capitalization of $1.4 billion, creating the first billion-dollar corporation in history by purchasing Andrew Carnegie’s steel empire for approximately $480 million and consolidating it with …
On October 27, 1887, after two years of negotiations, Henry Osborne Havemeyer orchestrated the formation of the Sugar Refineries Company, commonly known as the “Sugar Trust,” consolidating 17 of the 23 sugar refinery companies operating in the United States. Havemeyer successfully …
In 1885, J.P. Morgan invited leading railroad executives to a meeting aboard his yacht to address what he perceived as “ruinous competition” in the railroad industry. Morgan used the gathering to convince railroad magnates controlling major lines including the New York Central and …