$ cat ./records/justice-department-forces-microsoft-to-abandon-its-1-5-billion-in-1995.txt
Justice Department Forces Microsoft to Abandon Its $1.5 Billion Intuit Takeover
[RECORD.TXT] · cat --full
In October 1994, Microsoft agreed to buy Intuit, maker of the dominant Quicken personal-finance software, for about $1.5 billion — what would have been the largest software merger to that point. The U.S. Justice Department sued on April 27, 1995, to block the deal, warning that combining Quicken (which held roughly 75 percent of the market) with Microsoft's Money product would raise prices and chill innovation. Rather than fight a prolonged antitrust battle, Microsoft called off the acquisition in May 1995 and paid Intuit a $46.25 million termination fee. It was an early instance of regulators blocking Bill Gates's Microsoft from expanding through acquisition.
Source: https://www.spokesman.com/stories/1995/may/21/microsoft-deletes-merger-with-intuit-because-of/
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