America's antitrust policy is going back to the future, with a focus on how competition impacts consumer prices.

Driving the news: President Biden today will meet virtually with independent farmers and ranchers to discuss how the meatpacking industry is dominated by a small number of conglomerates.

• His goal is to highlight administration arguments that anti-competitiveness has led to household grocery bill inflation, while simultaneously constraining payments made to cattle farmers.
• None of the four industry giants cited by the White House has made a major acquisition in the past few years, but each has a long history of inorganic growth.

The big picture: Current antitrust law, which hasn't changed much in any of our lifetimes, is mostly predicated on pricing concerns. As such, regulators have typically cared more about horizontal mergers (where a company subsumes a competitor) than vertical mergers (where it buys a company in a different market).

• Politicians of both parties have been pushing for antitrust laws to be rewritten and enforcement to be creatively expanded. Particularly when it comes to big tech, where competition issues are often divorced from what consumers pay (at least directly).
• Biden's beef battle doesn't negate the adoption of broader antitrust policies, but does suggest that pricing will remain the cornerstone concern. Even if Larry Summers finds it misguided.

The bottom line, per Axios' Felix Salmon: "It's very hard to find good-faith arguments on any side of this debate. But one thing is clear: The U.S. government is currently being broadly blamed for rapidly rising prices. If inflation does decline, for any reason, then it will surely claim credit."

Terra Firma is seeking a buyer for British residential property owner Annington Homes, at an asking price north of £9 billion (including assumed debt), per Sky News.

• Why it's the BFD: Annington is one of the U.K. largest private landlords. Most of its 40,000 homes occupied by British military personnel, per a 200-year agreement with the Ministry of Defence.

• The bottom line: "Terra Firma acquired Annington in 2012 from Nomura, the Japanese bank where [Terra Firma boss Guy] Hands previously worked on a series of pioneering deals, for a reported £3.2 billion. It was one of a string of property-related purchases that the tycoon has made, generating huge rewards for his family and, on many occasions, his external investors." — Mark Kleinman, Sky News

• Monzo, a British challenger bank, raised $600 million at a $4.5 billion valuation, per Bloomberg. Abu Dhabi Growth Fund led, and was joined by Tencent and insiders Accel and General Catalyst. http://axios.link/1wiU

• iCapital Network, a New York-based fintech platform for alternative investing, raised $50 million at a $6 billion valuation led by insider WestCap. http://axios.link/9bCg

• AIMMO, a South Korean data labeling startup, raised $12 million in Series A funding from DS Asset Management, Industrial Bank of Korea, Hanwha Investment & Securities, S&S Investment, Toss Investment, Korea Asset Investment & Securities and Venture Field. http://axios.link/uJ0I

• Avoma, a Palo Alto-based meeting assistant, raised $12 million in Series A funding. Headline led, and was joined by Storm Ventures, GFC, Zoom, Operator Partners, Industry Ventures, K9 Ventures, Dragon Capital and Twin Ventures. www.avoma.com

• Purple Dot, a London-based e-commerce waitlist platform, raised $4 million. Unusual Ventures led, and was joined by insiders Connect Ventures, Moxxie Ventures and Paul Forster's family office. www.purpledotprice.com

• 3G Capital agreed to buy a 75% stake in Dutch window coverings maker Hunter Douglas (Ams: HUDN) at a $7.1 billion enterprise value, or €175 per share. http://axios.link/dkLN

• Apollo Global Management agreed to buy U.K. homebuilder Miller Homes from Bridgepoint for £1.2 billion. http://axios.link/8URr

🚑 Bain Capital approached Walgreens Boots Alliance (Nasdaq: WBA) about buying the U.K. drugstore chain Boots, per the Times of London. http://axios.link/zgCw

• Carlyle Aviation Partners agreed to buy Raleigh, N.C.-based AMCK Aviation's aircraft portfolio, consisting of 125 planes, which has an appraised value of more than $4 billion (not including the order book, which is part of the deal). AMCK is owned by CK Asset Holdings and the Li Ka Shing (Global) Foundation.

• Gemspring agreed to buy a majority stake in JTI, a Bakersfield, Calif.-based designer and installer of electrical and mechanical systems for industrial facilities, from JMC Investment. www.jtielectric.com

🚑 Kora Saude, a listed Brazilian hospital chain backed by H.I.G. Capital, acquired smaller rival Hospital Sao Francisco for around $59 million. http://axios.link/FK0i

• Reverence Capital Partners bought a majority stake in Ministry Brands, a Lenoir City, Tenn.-based provider of cloud software and services for churches and ministries. www.ministrybrands.com

• Variant Equity acquired CompuCom Systems from Office Depot (Nasdaq: ODP) for up to $305 million (including earnouts). ODP had paid $1 billion to buy the managed service provider in 2017. http://axios.link/PKIl

• Vista Equity agreed to buy SalesLoft, an Atlanta-based sales engagement software company, for $2.3 billion. SalesLoft had raised $245 million in VC from backers like Insight Partners, HarbourVest, Emergence Capital, Atlanta Ventures, Storm Ventures, SaaStr and Owl Rock Capital. http://axios.link/3MCp

Novo Holdings won the auction for Medical Knowledge Group, which provides marketing services to drug companies, at a $1.15 billion enterprise value, Axios' Sarah Pringle scoops.

• The seller is Court Square, which bought MKG from WindRose Health Investors two years ago for roughly $330 million.
• Sarah will co-author the Axios Pro newsletter on health tech deals. Join the waitlist.

Crypto investment firm Multicoin Capital privately told investors that its hedge fund assets have soared 20,287% since inception in October 2017, and that its first venture capital fund has returned more than 28x (net of fees), Axios' Lucinda Shen reports.

• Its biggest kahuna is Solana, the blockchain network billed as an Ethereum competitor with faster transaction speeds.
• Lucinda will co-author the Axios Pro newsletter on fintech deals. Join the waitlist.

No companies expect to go public this week on U.S. exchanges.

🚑 Amylyx Pharma, a Cambridge, Mass.-based developer of ALS treatments, set IPO terms to 8.8 million shares at $18-$20. It would have a $1.1 billion fully diluted value, were it to price in the middle. The Phase 3 biotech plans to list on the Nasdaq (AMLX) and raised $200 million in VC funding from firms like Morningside Ventures (22.4% pre-IPO stake) and Viking Global Investors (10.5%). http://axios.link/1ZzF

🚑 CinCor Pharma, a Boston-based biopharma focused on hypertension, set IPO terms to 11 million shares at $15-$17. It would have a $594 million fully diluted value, were it to price in the middle, plans to list on the Nasdaq (CINC) and raised over $190 million from Sofinnova Ventures (23% pre-IPO stake), Sofinnova Partners (17%), 5AM Ventures (17%) and General Atlantic (10.6%). http://axios.link/9bYm

🚑 Vigil Neuroscience, a Cambridge, Mass.-based developer of antibody therapies for neurodegenerative diseases, set IPO terms to seven million shares at $15-$17. It would have a $491 million fully diluted value, were it to price in the middle, plans to list on the Nasdaq (VIGL) and raised around $140 million from Atlas Ventures (24.9% pre-IPO stake), Northpond Ventures (18.2%), Vida Ventures (15.7%), Amgen (15.1%) and Hatteras Venture Partners (5.9%). http://axios.link/N8GZ

• Aries II Acquisition, a tech SPAC led by Thane Ritchie (Global Investment Capital) filed for a $130 million IPO. http://axios.link/41km

⚡ EIP Acquisition I, an energy transition SPAC formed by Energy Impact Partners, withdrew registration for its $300 million IPO. http://axios.link/psOs

• Grandview Capital Acquisition, a food industry SPAC, filed for a $300 million IPO. http://axios.link/Uu74

• LIV Capital Acquisition II, a Mexico SPAC formed by LIV Capital Group, filed for a $100 million IPO. http://axios.link/Vnan

• PowerUp Acquisition, a media and entertainment SPAC led by ex-Vivendi Games and Sony execs, filed for a $225 million IPO. http://axios.link/lbtH

• Antin is seeking a buyer for Lyntia, a Spanish fiberoptic network operator that could fetch €4 billion, per Expansion. http://axios.link/ANk7

• CVC Capital Partners agreed to sell Italian online gaming operator Sisal for €1.91 billion to Flutter Entertainment (Dublin: FLTR). http://axios.link/UQhp

• Delivery Hero (DE: DHER) agreed to increase its stake in Spanish delivery app Glovo to 83.2% from 43.8%, at a €2.3 billion fully diluted valuation. Glovo most recently raised €450 million in Series F funding last March led by Luxor Capital Group. http://axios.link/TxNv

⚡ Reliance Industries of India agreed to buy Faradion, a British sodium-ion battery maker, for £100 million. Sellers include Mercia Asset Management. http://axios.link/hmdl

• Zurich Insurance Group agreed to sell its Italian life and pensions back book to Portugal’s GamaLife, in a deal designed to release around $1.2 billion in capital. http://axios.link/JQIk

• Permira raised $4 billion for its second growth opportunities fund. http://axios.link/P1Yk

• Lana Lewin has stepped down as a managing director in the Credit Suisse private funds group, which she joined 25 years ago (when it was part of DLJ), per an email seen by Axios. Lewin didn't return a request for comment.

• Jelena McWilliams resigned as chair of the Federal Deposit Insurance Corp., citing disputes with Democrats. She had been appointed by former President Trump, and her term was set to expire in June 2023. http://axios.link/lIf5

• Sebastian Kurz, the former Austrian chancellor who’s currently under criminal investigation for corruption, reportedly agreed to join Thiel Capital as a strategist. http://axios.link/kR5b

• Oak HC/FT promoted Vig Chandramouli to partner, Oivind Lorentzen and Andy Smith to principals and Chelsea Chen to senior associate. www.oakhcft.com

• TCV promoted Michael Kalfayan to partner. http://axios.link/dlWe