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Schick razor maker drops $1.4B bid for Harry's

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Following Federal Trade Commission opposition, Schick razor maker Edgewell Personal Care called off its $1.4 billion purchase of Harry's Inc.

The FTC threatened to file suit over antitrust concerns.

"We are disappointed by the FTC's decision and continue to disagree with its position," CEO Rod Little said. "Given the inherent uncertainty of a potential trial, the required investment of resources and time ... we determined that proceeding with our standalone strategy is the best course of action for Edgewell."

Read more from Reuters.

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