DraftKings, FanDuel Scrap Merger Amid Antitrust Scrutiny

Law360, New York (July 13, 2017, 7:06 PM EDT) -- Daily fantasy sports operators DraftKings Inc. and FanDuel Inc. said Thursday they would no longer pursue their plan to join forces, as the companies faced mounting antitrust scrutiny and a legal challenge from the Federal Trade Commission.

In separate statements, the CEOs for Boston-based DraftKings and New York-based FanDuel said the decision to scrap the deal and proceed as separate companies was in the best interest of their customers, employees and other stakeholders. The termination announcement comes less than a month after a lawsuit by the...
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