Two large companies in the insurance brokerage space were to merge together, but the DOJ said, “not today!”
When the Department of Justice caught wind of the merger, they investigated and found the merger would make it the biggest insurance broker in the world. Ultimately, they filed a lawsuit in June to put an end to the deal.
Why’d they do it?
The Biden administration has been adding more pressure to put an end to anti-competitive business practices and stricter antitrust enforcement.