The White House on Tuesday praised the Justice Department’s successful effort to stop a $30 billion deal that would have created the world’s biggest insurance broker, saying the agency’s work was “robust enforcement of the antitrust laws.”
Aon and Willis Towers Watson called off their merger on Monday, saying U.S. regulators’ objections created unacceptable delay and uncertainty. The Justice Department had filed a lawsuit to stop it.
White House press secretary Jen Psaki praised the Justice Department, saying its effort was “what the president was talking about when he called for more robust enforcement of the antitrust laws.”
President Joe Biden has taken more interest in antitrust than most presidents, and named one progressive antitrust expert to work in the White House and others to head the Federal Trade Commission and Justice Department’s Antitrust Division.
He also signed a sweeping competition executive order urging agencies to crack down on anti-competitive practices in sectors ranging from agriculture to pharmaceuticals and labor. read more
Rising prices have struck areas as diverse as lumber, labor, gasoline and fast food, a politically sensitive issue for an administration trying to engineer a recovery from the -19 recession. It has positioned antitrust policies as one tool to contain inflation.
Aon declined to comment on Psaki’s statements but referred to a previous statement in which it said that the Justice Department’s challenge was “in contrast” to antitrust enforcers elsewhere. “The DOJ’s (Justice Department’s) perspective demonstrates a misunderstanding of the marketplace and our combination was blocked by poor timing and factors ultimately outside our control,” the company said in a public statement this week.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Federal Judge Signals Revisions Likely in DOJ Case Targeting Live Nation Monopoly
Jan 22, 2025 by
CPI
American Airlines and JetBlue Agree to $2 Million Legal Fee Settlement with U.S. States
Jan 22, 2025 by
CPI
Federal Judge Dismisses Class Action Alleging Inflated Yacht Commission Fees
Jan 22, 2025 by
CPI
Doug Gurr Appointed Interim Chairman of UK’s Competition Authority
Jan 22, 2025 by
CPI
LinkedIn Faces Lawsuit Over Alleged Misuse of Customer Data for AI Training
Jan 22, 2025 by
Amanda Adams
Antitrust Mix by CPI
Antitrust Chronicle® – Pharmacy Benefit Managers
Jan 20, 2025 by
CPI
Untangling the PBM Mess
Jan 20, 2025 by
Kent Bernard
Using Data, Not Anecdotes, to Analyze Criticisms of Pharmacy Benefit Managers
Jan 20, 2025 by
Dennis Carlton
Vertical Integration and PBMs: What, Me Worry?
Jan 20, 2025 by
Lawton Robert Burns & Bradley Fluegel
The Economics of Benefit Management in Prescription-Drug Markets
Jan 20, 2025 by
Casey B. Mulligan