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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