The Federal Trade Commission alleges that the acquisition would combine the largest suppliers to veterinary clinics and large corporate accounts, and asks a court to stop it.
The US Federal Trade Commission sued on 13 November 2026, to block Covetrus and its owners from acquiring veterinary distributor MWI from its parent, Cencora, for $3.5 billion. The agency alleges the deal would combine the two largest suppliers in the markets for veterinary clinic distribution and distribution to large corporate accounts.
Covetrus and Cencora previously agreed to combine Covetrus with MWI, subject to conditions including regulatory approvals. In the announcement of the agreement, Covetrus CEO Ben Wolin said the combination could improve logistics and create savings.
The FTC’s release does not include a response from the companies to its lawsuit.
Covetrus and MWI supply medicines, vaccines, gloves, syringes and surgical supplies, as well as services, to customers ranging from single-veterinarian practices to companies with hundreds of US clinics. The FTC alleges that the merger would raise clinics’ costs, reduce service quality and increase prices for pet owners.
The agency’s complaint says Covetrus responded to MWI’s pricing by cutting its own prices and offering rebates through its VetSuite program. It also says Vetcove, an online platform for comparing prices, has intensified competition by helping veterinarians use one distributor’s prices to negotiate with the other.
The complaint says both companies have nationwide distribution networks that support fast delivery and discounts smaller rivals cannot match. It alleges that barriers make entry difficult and that other suppliers do not meaningfully constrain veterinary clinic distributors.
The FTC’s complaint also names Covetrus owners Clayton, Dubilier & Rice and TPG. Attorneys general from 13 states joined the case: Arizona, Arkansas, California, Colorado, Maine, Michigan, Minnesota, Nebraska, New York, North Carolina, Ohio, Oregon and Texas. The commission voted 2-0 to authorize staff to seek a permanent injunction.
Agency head Vadim Yakovenko told President Vladimir Putin about the sale in a Kremlin transcript published on 13 November 2026. BTS-Most Holding had acquired the state’s controlling stake in July.
The case is before the US District Court for the Southern District of New York, where the FTC has asked for an order permanently blocking the acquisition. The court’s decision on that request remains pending.
2 min
The five-year contract covers data integration and analysis for three forces and runs until 8 October 2031, subject to an earlier break option.
2 min
The regulator found Tinder’s Download My Data tool did not comply with EU privacy rules. Owner Match Group plans to appeal the fine.
1 min
