Tuesday , December 12 2017
Home / Business / U.S. to seek to block merger of fantasy sport companies DraftKings, FanDuel -FTC
dna-logo-shared.jpg

U.S. to seek to block merger of fantasy sport companies DraftKings, FanDuel -FTC

U.S. antitrust enforcers have authorized legal action aimed at stopping the merger of DraftKings and FanDuel, alleging that the combined firm would control more than 90 percent of the U.S. market for paid daily fantasy sports contests, the Federal Trade Commission said on Monday.

The FTC, jointly with offices of the attorneys general in California and the District of Columbia, will file a complaint in federal district court seeking a preliminary injunction to stop the deal.

The two companies, who dominate their niche business, announced the deal in November 2016 as a merger of equals.

(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)


Source link

Check Also

631987-crudeoil-shutterstock-121117.jpg

India needs to trim its overdependence on OPEC crude oil

In December 2015, the United States (US) lifted the 40-year-old ban on oil export which …

631992-sez-012217.jpg

A Chinese idea that stripped India of growth

Nearly two decades ago, special economic zones (SEZs) fired up several dreams in India. Many …

Leave a Reply

Your email address will not be published. Required fields are marked *