The U.S. Federal Trade Commission filed a complaint in December aiming to stop the deal.“We were disappointed by the FTC’s decision and maintain there was exciting potential in combining Billie with P&G to better serve more consumers around the world,” the companies said in a joint statement.

The FTC had said that Billie sold quality razors for women at a moderate price while P&G was a market leader in the sale of all wet shave razors. In its marketing, Billie highlights the so-called pink tax, collected by companies that charge women more than men for similar products.“Billie is a direct-to-consumer company whose advertising targets customers who are tired of paying more for comparable razors,” said Ian Conner, director of the FTC’s Bureau of Competition, in a statement. “The FTC voted to challenge this merger because it would have eliminated dynamic competition from Billie.”The P&G deal for Billie, which began selling its products in November 2017, was announced in January 2020.