Article sounds owlish on US company’s colluding (2,7)

I believe the answer is:

in cahoots

I'm a little stuck... Click here to teach me more about this clue!

'colluding' is the definition.
(I've seen this before)

I can't explain the remainder of the clue.

(Other definitions for in cahoots that I've seen before include "Colluding" , "Conspiring together" , "Associated with" , "Working with" , "Thick" .)

I've seen this clue in The Times.

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