The FTC blocked the Harry?s razor startup?s sale to Schick?s owner

While the tech and startup world awaits results of the US government’s antitrust investigations of Big Tech, the government’s main antitrust enforcement agency just made a surprise decision: to break up Big Razor.The FTC announced on Monday that it would seek to block Edgewell, the parent company of the Schick razor brand, from purchasing the startup razor company Harry’s in a $1.37 billion acquisition that was announced last May. The proposed deal marked one of the biggest acquisitions of a so-called digital-native consumer brand and was seen as proof in startup circles that disruptive retail brands could have successful financial outcomes without going public.But in a statement on Monday morning, the FTC announced that it would sue to block the deal, saying the deal “would remove a critical disruptive rival that has driven down prices and spurred innovation in an industry that was previously dominated by two main suppliers, one of whom is the acquirer.”Harry’s co-founders Jeff Raider and Andy Katz-Mayfield said in a statement that they were “disappointed” by the decision “and are evaluating the best path forward.”“We believe strongly that the combined company will deliver exception brands and products at a great value, and are determined to bring those benefits to consumers,” they added.The decision comes as the tech and startup world is focused on the FTC and other government arms for a very different reason: their antitrust probes into Amazon, Apple, Google, and Facebook.