The PGA Tour and LIV Golf merger is reportedly under the scrutiny of the Justice Department for antitrust concerns.
The review notice sent by the Justice Department made the merger uncertain and halted any transaction between the companies for some time, reported WSJ.
Due to this, the proposal's outcome won't likely be known for at least a year, the report noted, citing a person familiar with the deal.
The union between PGA Tour and Saudi Arabia Public Investment Fund (PIF) could fall apart if both sides didn't agree on specific terms.
Related: Bombshell PGA Tour-LIV Merger Leaves Unanswered Competitive Questions
Also, this week, Jay Monahan, the commissioner who helped companies negotiate the deal, took a leave of absence, further complicating the matter for the companies.
Related: PGA Tour And LIV Golf Unite, Ending Tensions and Lawsuits: CNBC
Post-deal announcement, former U.S. President Donald Trump celebrated the news of PGA and LIV's merger on Truth Social. Trump called the agreement "A big, beautiful, and glamorous deal for the wonderful world of golf."
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
