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Justice Department Will Investigate PGA Tour-LIV Merger, Report Says

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The former rivals surprised the world last week when they announced plans to merge.

The Justice Department told the PGA Tour it will investigate the recently announced merger between the golf giant and Saudi-backed LIV Golf league because of antitrust concerns, theThursday, more than a week after the former rivals surprised the world with the announcement they were merging....

[+]AP/Seth WenigThe review by the Justice Department makes it unlikely that a transaction between the golf entities will take effect for some time, theThe Justice Department had already been investigating a number of golf entities, including the PGA Tour, for antitrust concerns, theAlso on Thursday Sen. Ron Wyden , who chairs the Senate Finance Committee, announced a “wide-ranging” investigation into the merger that could threaten the PGA’s tax-exempt nonprofit status.

 

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Senate Democrats press for Justice Department inquiry into PGA Tour-LIV Golf mergerDemocratic Sens. Elizabeth Warren and Ron Wyden urged the Justice Department to examine potential antitrust abuses from the PGA Tour-LIV Golf deal.
Source: CNBC - 🏆 12. / 72 Read more »