(Reuters) – Tapestry abandoned its $8.5 billion bid for Michael Kors owner Capri after a judge blocked it following a lawsuit by the U.S. Federal Trade Commission (FTC), in the latest regulatory squeeze under the Biden administration.
Here are other deals that have been terminated or face regulatory scrutiny:
DEALS THAT HAVE BEEN TERMINATED
DEAL DEAL VALUE CONTEXT
JetBlue-Sp $3.8 JetBlue Airways and Spirit Airlines
irit billion scrapped their $3.8-billion merger
Airlines agreement in March 2024, with the
low-cost carriers saying there was
no path forward after a U.S. judge
blocked the deal in January on
anti-competition concerns.
Avangrid $8.3 Iberdrola’s U.S. unit Avangrid Inc
Inc-PNM billion said in January 2024 it had
Resources terminated its planned $8.3 billion
acquisition of rival PNM Resources,
because it could not get all the
necessary regulatory approvals to
close the deal by Dec. 31, 2023.
DEALS THAT ARE UNDER SCRUTINY
DEAL DEAL VALUE CONTEXT
UnitedHeal $3.3 The U.S. Department of Justice and
th billion three U.S. states filed a lawsuit in
Group-Amed November 2024 to block UnitedHealth
isys Inc Group’s $3.3 billion acquisition of
Amedisys Inc, citing concerns that
the deal would reduce competition in
the home health services market.
Capital $35.3 New York Attorney General Letitia
One- billion James is investigating whether
Discover Capital One’s proposed $35.3 billion
Financial takeover of Discover Financial
Services Services violates the state’s
antitrust law, the state said in
October 2024.
Kroger- $25 billion The trial where U.S. anti-trust
Albertsons regulators made their case to block
Kroger’s $25 billion bid to buy rival
grocer Albertsons concluded in
September 2024, but the deal’s legal
challenges remain, with two more
trials to hear complaints that the
merger could jack up grocery bills.
Nippon $14.9 Nippon Steel’s $14.9 billion bid for
Steel-U.S. billion U.S. Steel has faced opposition by
Steel both newly elected President Donald
Trump and the outgoing Biden
administration. A top Nippon Steel
executive and U.S. Steel’s CEO met
with senior U.S. officials in
September in an effort to salvage the
deal.
Tempur $4 billion The U.S. Federal Trade Commission
Sealy said in July 2024 it would sue to
Internatio block the $4 billion merger between
nal- mattress manufacturer Tempur Sealy
Mattress International Inc and retailer
Firm Mattress Firm. Tempur Sealy now
expects to close the deal later this
year or early 2025.
(Reporting by Ananta Agarwal in Bengaluru; Editing by Sriraj Kalluvila)