
The Federal Trade Commission sued today in the U.S. District Court for the Southern District of New York to block Covetrus Inc. and its owners, Clayton, Dubilier & Rice LLC and TPG Inc., from acquiring rival MWI Veterinary Supply Inc. for $3.5 billion.
The agency says the merger would combine the two largest distributors of veterinary clinic supplies, creating a highly concentrated market that could increase costs for veterinary practices and, ultimately, pet owners.
According to the complaint, Covetrus and MWI compete fiercely, offering lower prices and better service to independent vets and large corporate chains. The FTC argues that eliminating MWI would remove a key source of price competition, allowing the combined company to raise prices and reduce service quality.
Both companies supply a wide range of products—pharmaceuticals, vaccines, surgical supplies, gloves, syringes, and more—to veterinary clinics across the United States. They operate national distribution networks that let them deliver quickly and offer discounts that smaller rivals cannot match. The complaint notes that Covetrus has already responded to MWI’s aggressive pricing by lowering its own prices and offering rebates through its VetSuite program, creating an “all‑out price war.”
If the merger were allowed, the FTC says veterinarians could face higher prices for the products they need, which could be passed on to pet owners. For everyday pet owners, this could mean higher out‑of‑pocket costs for routine care, vaccines, and medications. No immediate action is required from vets or pet owners, but they should stay informed about the case’s outcome.
The FTC has asked the court for a permanent injunction—an order that would legally prevent the deal from closing. The agency’s request was approved by a 2‑0 vote of the FTC Commissioners. The complaint is joined by the attorneys general of Arizona, Arkansas, California, Colorado, Maine, Michigan, Minnesota, Nebraska, New York, North Carolina, Ohio, Oregon and Texas. The case will proceed in federal court, where a judge will decide whether to block the acquisition.
Anyone concerned about rising veterinary costs may want to monitor the case and consider discussing potential price impacts with their veterinarian. Consulting a lawyer can help clarify how antitrust actions like this could affect business contracts or pricing agreements.
If the merger proceeds, veterinarians may see higher supply costs, which could be passed on to pet owners.
Combining the two biggest distributors would create a dominant player in the veterinary supply market.
The action shows the FTC’s willingness to challenge large deals that could limit competition.
Thirteen states joined the FTC, indicating widespread worry about impacts on local veterinary practices.
Veterinary clinics should watch the case outcome and be prepared to reassess pricing contracts if the deal is blocked or allowed.
Federal rules apply nationwide, but your options depend on your state and situation. Browse attorneys by practice area, then pick your state.
This article is general information based on Federal Trade Commission and court or agency records available at publication time. It is not legal advice; laws and deadlines differ by state and by case. Published November 13, 2026.
Source: Federal Trade Commission
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