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Update 11:25 a.m.: Adds new reports on potential lawsuits against Amazon for antitrust practices.
one doctor (NASDAQ: ONE) fell 2.7% amid reports that the Federal Trade Commission has hired outside economists such as Amazon reviews (NASDAQ:AMZN) planned a $3.5 billion acquisition and that the FTC can sue the tech giant for alleged anti-competitive practices. Amazon fell 4%.
While the FTC hasn’t made any final decisions, the staff is preparing to file a lawsuit if it decides to contest the transaction, according to a Dealreporter article.
The Dealreporter article came out around the same time as wsj are reporting that the FTC is preparing a potential antitrust lawsuit against Amazon (AMZN) due to anti-competitive business practices.
Bloomberg reported separately that an FTC antitrust lawsuit against Amazon, which could be filed as soon as this spring, could also include the company’s plans to buy One Medical (ONEM) and iRobot (IRBT). iRobot shares fell 2.1%.
Amazon told Dealreporter in an emailed statement that it continues to work cooperatively with the FTC on this review of the One Medical (ONEM) settlement.
The hiring of the outside counsel comes after the FTC suffered a blow Wednesday when a federal judge ruled that Meta Platforms (META) can buy virtual reality company Within Unlimited. The report also comes after Amazon (AMZN) disclosed in early September that it received a request for additional information from the FTC about its One Medical (ONEM) settlement.
The FTC has issued subpoenas to current and former One Medical customers while it investigates the $3.9 billion transaction, according to a Dealreporter article last month. who explained that citations are not atypical in some reviews.
Amazon (NASDAQ:AMZN) agreed to acquire One Medical (ONEM), an operator of a membership-based primary care platform for $18/share in July.
Amazon (AMZN) is also acquiring iRobot (IRBT) for $1.65 billion and received a second FTC request for further review in September. In October, Senator Elizabeth Warren (D-MA), as well as five other members of Congress, urged the FTC to block the transaction.
