£1bn takeover of razor brand Harry’s ditched over competition concerns

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£1bn takeover of razor brand Harry’s by Wilkinson Sword-owner is ditched due to US competition concerns

By Daily Mail City & Finance Reporter

Published: | Updated:

Edgewell Personal Care, the owner of Wilkinson Sword, was set to buy rival Harry’s

The £1.1billion takeover of razor brand Harry’s has been ditched due to competition concerns.

Edgewell Personal Care, the owner of Wilkinson Sword, was set to buy its rival, a challenger brand popular with millennials.

But it pulled out of the deal after the US competition authorities threatened legal action.

Regulators said the tie-up would ‘eliminate one of the most important competitive forces’ in a ‘comfortable duopoly’ with major rival Procter & Gamble. Edgewell disagreed but did not want to fund a court battle.

 

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