The Federal Trade Commission announced plans to sue to block Edgewell’s $1.37 billion acquisition of shave club company Harry’s, citing concerns around competition in the consumer shaving industry.

In a unanimous decision Monday supported by both Democrats and Republicans, the agency argued that start-ups such as Harry’s are needed to rival giant corporations in the industry such as Edgewell, which owns Schick razors, or Procter & Gamble, which owns Gillette. The commission said the Edgewell-Harry’s merger would reduce the competition that drove down razor prices and spurred innovation.