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The US government blocks all kinds of company sales. Sometimes for anti monopoly reasons, sometimes for national security reasons. 10 years ago I worked for a
by lizknope 2y ago
The US government blocks all kinds of company sales. Sometimes for anti monopoly reasons, sometimes for national security reasons.
10 years ago I worked for a company with less than 2,000 people. We made a chip that was used by a few gigantic companies over 150K employees. There were only 3 companies that made this kind of product. My company tried to sell a business unit with about 200 people to our competitor and get out of this market. Our two gigantic customers went to the US FTC Federal Trade Commission and got them to block the deal over anti competitive concerns. With only 2 competitors these gigantic companies expected that they would have to pay more per chip. They used their influence to get the government to block the deal.