📦 Auger, an "operating system" for global supply chains, has launched with $100 million from Oak HC/FT, Pro Rata author Dan Primack writes.
- It's the first startup from Dave Clark, widely credited with building Amazon's logistics network.
- Clark left Amazon after more than 20 years to become CEO of Flexport, before getting ousted last fall by the company's founder.
⚔️ Descendants of Procter & Gamble's founders failed to oust CEO Jon Moeller and members of the committee overseeing environmental sustainability, Reuters reports.
- The CPG giant's shareholders voted in Moeller and members of the governance and public responsibility committee for another one-year term.
- The descendants alleged the CEO and the committee failed to manage deforestation risks in the company's supply chain.
⚖️ Tempur Sealy and Mattress Firm are suing the Federal Trade Commission over its challenge to the pair's merger.
- The companies are seeking an injunction in federal court that would halt the FTC's administrative proceedings seeking to block their acquisition.
- Meanwhile, Tempur Sealy secured a new $1.6 billion term loan that will go toward funding its acquisition.
🚦 The FTC got the green light to go forward with its case against Amazon, accusing the giant of stifling competition in the online retail space, according to documents that were unsealed from a district court judge's ruling on Sept. 30.
- However, several states that sued alongside the agency, including New Jersey, Pennsylvania, Maryland and Oklahoma had their cases dismissed.
🛍️ Authentic Brands Group and Saks Global have teamed up on a luxury joint venture that will be "an incubator for brand growth" in fashion, retail, hospitality, real estate, art and travel.
- The venture, dubbed Authentic Luxury Group, will bring together Authentic brands Barneys New York, Judith Leiber Couture, Hervé Léger and Vince and Saks Fifth Avenue and Saks Off 5th.
- Authentic will take a minority stake in Saks Global as part of the agreement.
Editor's note: This story has been corrected by removing a reference to Bergdorf Goodman and Neiman Marcus as being part of ALG's joint venture with Saks.
