The FTC is launching a major investigation into a $3.5 billion merger between MWI Animal Health (owned by Cencora) and Covetrus, two giants in veterinary supply. With customer and competitor interviews underway, regulators are probing how the deal could impact access to essential vet products and critical practice management software. As Cencora seeks to streamline operations by divesting non-core assets, the FTC’s scrutiny aims to prevent market harm — and the outcome remains uncertain.

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