FTC Hails Preliminary Injunction to Block Iqvia’s Propel Media Buy
The FTC hailed Friday’s order signed by U.S. District Judge Edgardo Ramos for Southern New York in Manhattan granting the agency’s motion for a preliminary injunction that blocks Iqvia’s Propel Media buy (see 2307200024). The FTC “has satisfied its burden…
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of demonstrating that a preliminary injunction of the proposed acquisition is in the public interest,” said Ramos’ order (docket 1:23-cv-06188). The agency also has shown that there’s “a reasonable probability that the proposed acquisition will substantially impair competition in the relevant market and that the equities weigh in favor of injunctive relief,” said the order. The injunction is pending the commission’s administrative proceeding seeking to permanently block the proposed deal. An administrative trial is scheduled to begin Jan. 18. “We are pleased with the federal court’s decision and look forward to continuing to fight to permanently enjoin this anticompetitive deal via the Commission’s administrative proceedings,” said Bureau of Competition Director Henry Liu in a statement Wednesday.