FTC Expected to File Lawsuit to Block Covetrus Acquisition of MWI Veterinary Supply
The U.S. Federal Trade Commission (FTC) is expected to file a lawsuit this Friday to block the $3.5 billion acquisition of MWI Veterinary Supply by Covetrus. The deal, which involves Covetrus—an entity owned by private equity firms Clayton, Dubilier & Rice (CD&R) and TPG—would see MWI pass from its current owner, Cencora (COR), to the acquiring firm. The regulatory intervention aims to prevent potential antitrust issues within the veterinary supply market. If successful, the FTC's legal action will halt the consolidation of these two major players in the animal health distribution sector, potentially impacting the strategic plans of both Cencora and the private equity backers of Covetrus.
Topics: Antitrust FTC lawsuit Mergers and Acquisitions Veterinary Supply