Empire Codex

Here’s what we have for you today:

• US DOJ flying

• Pfizer on debt

• Dashing fee

US Justice Dept. peeling off airline partnership

Unplugging: US Department of Justice sued to undo JetBlue and American Airlines partnership in the Northeast arguing it was anti-competitive.

When: On May 19,2023 a federal judge ended the two airline’s partnership in the Northeast.

Afterwards: The airlines were ordered to end the partnership 30 days after the ruling. The carriers are likely to challenge the decision. A JetBlue spokeswoman said the carrier is studying the decision and evaluating next steps.

Pfizer looking to gobble up smaller fish

Costly: Pfizer plans to raise $31 billion through a debt offering to fund its proposed acquisition of Seagen (a cancer drug maker).

Interestingly: Pfizer’s debt offering would be the biggest since CVS Health sold $40 billion of bonds in 2018 to finance its acquisition of health insurer Aetna.

Watch out: Pfizer expects to complete the $43 billion Seagen buyout in late 2023 or in early 2024.

In review: On May 15,2023 the two companies submitted paperwork for their proposed merger to the Federal Trade Commission and the Department of Justice.

DoorDash getting served by its customer(s)

Knock knock: A proposed class-action suit claims that DoorDash attach extra fees to orders placed through iPhones compared to otherwise identical orders from users with Android smartphones.

In addition: The lawsuit alleges that customers who use DashPass, the company’s subscription service, are charged an extra fee on each order.

The price: The lawsuit asks for damages worth $1 billion “for all consumers who fell prey to DoorDash’s illegal pricing scheme over the past four years”.

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