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Illustration: Sarah Grillo/Axios

Edgewell, the Connecticut-based maker of Schick razors, acquired DTC women's razor maker Billie for $310 million in cash.

Why it matters: This is the final move of an antitrust chess match in which Billie was a pawn.

Backstory: Billie agreed in early 2020 to be acquired by Gillette owner Procter & Gamble, with lots of industry chatter that the deal was primarily designed to put regulatory pressure on Edgewell's agreement to buy Harry's for $1.37 billion.

  • And it worked. Yes, P&G also got blocked by the FTC from buying Billie, but that was a small price to pay.
  • Billie had raised $35 million in VC funding from firms like Silverton Partners, Goldman Sachs, Female Founders Fund, Lakehouse Ventures, Serena Ventures and ACME Capital.

The bottom line: "Billie will continue to be led by its co-founders, Georgina Gooley and Jason Bravman .... Edgewell expects the acquisition to be slightly positive to Edgewell's adjusted earnings per share during fiscal 2022. Billie plans to expand into brick-and-mortar retail next year." — Jonathan Roeder, Bloomberg

Go deeper: Clearlake Capital Group to buy Quest Software for $5.4 billion

Go deeper

Dan Primack, author of Pro Rata
Nov 29, 2021 - Economy & Business

Clearlake Capital Group to buy Quest Software for $5.4 billion

Illustration: Brendan Lynch/Axios

Clearlake Capital Group agreed to buy Quest Software, an Aliso Viejo, Calif.-based provider of enterprise management software, from Francisco Partners for $5.4 billion (including debt).

Why it matters: This reflects ongoing private equity bounty from Dell's 2013 decision to go private, and its subsequent merger with EMC.

Updated 45 mins ago - Economy & Business

Janet Yellen co-opts Reaganomics phrase for new Davos speech

Treasury Secretary Janet Yellen at a speech this week. Photo: Alex Wong/Getty Images

The U.S. needs to focus on increasing its productive potential, Treasury Secretary Janet Yellen told world leaders Friday, calling for what she terms "modern supply side economics."

Why it matters: She co-opted a phrase traditionally used by political conservatives to describe low-tax and deregulatory policies — and framed the Biden administration's initiatives as the best path forward to achieve greater national prosperity.

National Archives releases Trump White House records to Jan. 6 panel

Photo: Chip Somodevilla/Getty Images

The National Archives on Thursday evening released records of former President Trump's White House to the House Jan. 6 Select Committee, the agency said.

Why it matters: The committee now has documents that Trump attempted to keep hidden, arguing that their release would undermine his executive privilege.

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