A Justice Department lawyer delivered closing arguments Friday in an antitrust challenge to Penguin Random House’s planned acquisition of rival publisher Simon & Schuster
WASHINGTON—A Justice Department lawyer delivered closing arguments Friday in an antitrust challenge to Penguin Random House’sof rival publisher Simon & Schuster, a test for the Biden administration’s aggressive approach to challenging corporate mergers.
“The merger will reduce the number of players in this market,” Justice Department lawyer John Read said, “and will clearly exacerbate the risk of coordination in the market.”
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