The Federal Trade Commission released its interim staff report titled ‘Pharmacy Benefit Managers: The Powerful Middlemen Inflating Drug Costs and Squeezing Main Street Pharmacies,’ revealing alarming market concentration and anticompetitive practices. The report found that three PBMs—CVS …
Federal Trade CommissionLina KhanCVS CaremarkExpress ScriptsOptumRx+1 morehealthcarepbmpharmacyantitrustregulatory-capture+3 more
The Federal Trade Commission ordered private equity firm JAB Consumer Partners to divest veterinary clinics in four metropolitan areas as a condition of its $1.65 billion acquisition of Ethos Veterinary Health, citing concerns about JAB’s roll-up strategy creating local monopolies in specialty …
Federal Trade CommissionJAB Consumer PartnersJAB Holding CompanyNational Veterinary AssociatesEthos Veterinary Health+1 moreantitrustconsolidationprivate-equityveterinaryhealthcare+4 more
AbbVie completed its $63 billion acquisition of Allergan after FTC approval requiring divestiture of digestive drug brazikumab to resolve antitrust concerns. The merger created a pharmaceutical giant with combined 2019 revenues of $48 billion and a diversified portfolio spanning immunology, …
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One day before trial, California hospital system Sutter Health agreed to pay $575 million and change anticompetitive practices after a lawsuit filed by California Attorney General Xavier Becerra and consolidated with a 2014 case brought by the United Food and Commercial Workers International Union. …
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Bayer AG completed its $63 billion acquisition of Monsanto after receiving antitrust approval from U.S. and European regulators, consolidating the agricultural seeds and chemicals industry from the “Big Six” into a “Big Four” oligopoly controlling over 60% of global seed …
Bayer AGMonsantoDepartment of JusticeAntitrust DivisionEuropean Commission+1 moreantitrustconsolidationmergeragricultureoligopoly+4 more
Anheuser-Busch InBev completed its $107 billion acquisition of SABMiller, the largest-ever deal in the beer industry, after receiving antitrust approval requiring divestiture of SABMiller’s U.S. business (MillerCoors stake) to Molson Coors. The merger consolidated the global beer industry into …
Anheuser-Busch InBevSABMillerMolson CoorsDepartment of JusticeAntitrust Divisionantitrustconsolidationmergerbeer-industryduopoly+2 more
The Department of Justice approved American Airlines’ merger with US Airways after initially suing to block the deal, completing a five-year consolidation wave that reduced major U.S. airlines from seven to four dominant carriers controlling three-quarters of the commercial air travel market. …
American AirlinesUS AirwaysDepartment of JusticeAntitrust Divisionantitrustconsolidationmergeroligopolyregulatory-capture+2 more
The Department of Justice approved Delta Air Lines’ $2.6 billion stock-swap merger with Northwest Airlines, creating the world’s largest airline and triggering a decade-long consolidation wave that would reduce major U.S. carriers from ten to four dominant players controlling …
Delta Air LinesNorthwest AirlinesDepartment of JusticeAntitrust Divisionantitrustconsolidationmergeroligopolyregulatory-capture+2 more
AT&T Inc. (formerly SBC Communications) completed its $85.8 billion acquisition of BellSouth Corporation with FCC approval, reassembling much of the former Bell System that was broken up in 1984 as an antitrust remedy. The merger consolidated control over telecommunications infrastructure across …
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Private equity firm Ares Management acquired Aspen Dental in 2006, launching an aggressive roll-up strategy that would help consolidate the fragmented dental industry and establish the template for private equity’s systematic monopolization of healthcare sectors including dental, veterinary, …
Aspen DentalAres ManagementLeonard Green & PartnersAmerican Securitiesantitrustconsolidationprivate-equitydentalhealthcare+4 more
NationsBank completes its $62 billion acquisition of BankAmerica Corporation, creating the first truly coast-to-coast national bank in U.S. history and taking the Bank of America name. The merger occurs just one year before the formal repeal of Glass-Steagall, demonstrating how banking consolidation …
NationsBankBankAmericaFederal ReserveDepartment of JusticeHugh McCollbanking-consolidationmergersglass-steagallderegulationmarket-concentration+1 more
The Federal Trade Commission approved Boeing’s $13.3 billion acquisition of McDonnell Douglas, completing a merger wave that reduced major U.S. defense contractors from 51 firms in the late 1980s to just five dominant primes by the late 1990s. The consolidation wave was actively encouraged by …
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