Harry’s, the direct-to-consumer men’s and women’s shaving company, is now independent once more.
Edgewell Personal Care, which owns the Schick brand of shaving products, had been set to acquire Harry’s for $1.37 billion, but the company is backing out of the offer after the FTC sued to block the transaction on Feb. 3. In a statement, Edgewell president and CEO Rod Little cited the “required investment of resources and time” as to why the company moved away from the deal.
“We are disappointed by the FTC’s decision and continue to disagree with its position,” Little said.
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