In the rough: The Tipline for 8 June 2023

The robber barons of old were clever enough to conduct their business in smoke-filled rooms. Perhaps emboldened by smoke-filled skies, the PGA Tour could be proposing a merger-to-monopoly in broad daylight. Tour commissioner Jay Monahan told an NBC affiliate that joining forces with LIV Golf was designed “to take the competitor off the board”. If it sounds like the PGA Tour is not being advised by antitrust counsel, that’s because it says it's not. A PGA spokesperson told GCR on Tuesday that Wachtell Lipton Rosen & Katz was handling antitrust on the matter. But after Bloomberg reported no competition lawyers advised on the deal, GCR checked back with the tour and was told it is not receiving antitrust counselling. "We don’t anticipate any anti-trust issues,” the spokesperson said.

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