Procter & Gamble has identified as off its prepared takeover of women’s razor startup Billie, citing regulatory action to block the offer as anti-competitive.
The Federal Trade Commission submitted a complaint very last month alleging the offer was “likely to consequence in substantial hurt by reducing opposition in between the market chief and an important and expanding head-to-head competitor.”
P&G owns the Gillette razor brand name although Billie has discovered a market area of interest by selling discounted women’s razors and attacking the industry for its “pink tax” observe of charging extra for women’s products and solutions.
“We have been unhappy by the FTC’s choice and keep there was interesting prospective in combining Billie with P&G to much better serve extra individuals close to the environment,” the firms said in a joint assertion on Tuesday.
However, they additional, “after owing thing to consider, we have mutually agreed that it is