Bloomberg Law
Jan. 5, 2021, 7:42 PM

P&G Ends Deal for Razor Brand Billie Amid Antitrust Dispute (1)

Richard Clough
Richard Clough
Bloomberg News

Procter & Gamble Co. is terminating its planned acquisition of body-care brand Billie Inc. after U.S. antitrust officials challenged the deal over competition concerns.

The companies “mutually agreed” to walk away from the tie-up rather than engage in a legal challenge, according to an emailed joint statement Tuesday, about a year after P&G agreed to buy the direct-to-consumer razor brand. The maker of Tide laundry detergent and Dawn dish soap had hoped to bolster its women’s shaving unit, which already includes the Venus brand.

The Federal Trade Commission said last month that it would sue to block the deal, ...