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U.S. to seek to block merger of fantasy sport companies DraftKings, FanDuel -FTC
June 19, 2017 / 3:33 PM / 6 months ago

U.S. to seek to block merger of fantasy sport companies DraftKings, FanDuel -FTC

WASHINGTON, June 19 (Reuters) - U.S. antitrust enforcers have authorized legal action aimed at stopping the merger of DraftKings and FanDuel, alleging that the combined firm would control more than 90 percent of the U.S. market for paid daily fantasy sports contests, the Federal Trade Commission said on Monday.

The FTC, jointly with offices of the attorneys general in California and the District of Columbia, will file a complaint in federal district court seeking a preliminary injunction to stop the deal.

The two companies, who dominate their niche business, announced the deal in November 2016 as a merger of equals. (Reporting by Diane Bartz; Writing by Washington Newsroom)

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