FTC sues to block Covetrus acquisition of veterinary supplier MWI
The Federal Trade Commission sued to block Covetrus Inc. and its owners from acquiring rival MWI Veterinary Supply Inc. for $3.5 billion, the agency said. The complaint alleges the deal would merge the two largest suppliers in veterinary clinic distribution and distribution to large corporate accounts, and would raise costs for clinics, lower service quality and increase prices for pet owners.
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Key facts
Covetrus is owned by Clayton, Dubilier & Rice LLC and TPG Inc., which are also named in the FTC's action.1
MWI would be acquired from its parent company, Cencora Inc.1
The FTC describes MWI as Covetrus's closest competitor.1
The companies supply veterinary clinics with pharmaceuticals, vaccines, gloves, gauze, syringes, surgical supplies and thousands of other products, plus related services.1
Their customers range from single-veterinarian practices to corporate accounts with hundreds of clinic locations in the United States.1
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