According to a complaint filed by the Department of Justice, several funds affiliated with Third Point Management failed to file and observe the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976...more
On 28 August 2019 investment advisor Third Point LLC (Third Point) and three funds under its control – Third Point Partners Qualified L.P., Third Point Ultra, Ltd., and Third Point Offshore Fund Ltd. (collectively, the Third...more
Activist investor Third Point LLC and three funds that it controls have agreed to settle Federal Trade Commission charges that the funds violated the premerger notification and waiting period requirements of the...more
The European Commission has routinely considered potential harm to innovation as part of its merger assessments, particularly in R&D driven sectors such as pharmaceuticals and technology. In recent years, however, the...more
The Journal dropped something of a bomb on Friday with news that Goldman Sachs’ CEO Lloyd Blankfein is heading out the door as soon as the end of the year. If true, Goldman will likely look for his replacement within its...more
Antitrust merger enforcement historically has focused on horizontal mergers — consolidation of two firms that compete directly in the same space. This is especially true in the U.S., where antitrust authorities have...more
2017 saw some highly significant investigations and court judgments in European Union merger control. Notably: ..After detailed investigations and subject to extensive divestments, the European Commission (“EC”) cleared...more
In an apparent effort to appease dissatisfied activist investors, chemicals giant DowDuPont has announced plans to change its breakup plan with an reorganizational structure that focuses on three “distinct businesses: an...more
Because we haven’t spilled enough ink on GE this week, Dealbook’s Common Sense column asks if GE’s decline (at least from a stock performance perspective) wasn’t so much Jeff Immelt’s doing as it was Jack Welch’s....more
On 2 May 2017, China’s Ministry of Commerce (MOFCOM) announced its conditional clearance of the proposed US$130 billion all-stock merger of equals between the Dow Chemical Company (Dow) and E.I. du Pont de Nemours and Company...more
The Federal Trade Commission and Department of Justice have continued their aggressive stance against proposed mergers that the antitrust agencies perceive as harmful to competition. So far this year, the FTC obtained a...more
While the headlines in 2015 focused on the “megadeal” transactions over $5 billion (there were at least 137 such deals in 2015, according to Thomson Reuters), many transactions involving cross-border activities required...more
Likely prompted by its ongoing SIFI battle, MetLife is reportedly looking to spin off its retail life and annuity business and break up what’s now the largest life insurance company in the US, with $880 billion in assets –...more
The Fed’s Open Market Committee will wrap up its December meeting today, and big [long-awaited, honestly this time] news on rates is expected by afternoon. Here’s your continuing coverage – NYTimes and WSJ [and your 5 things...more
It’s already the strongest M&A year in history; why not add two iconic American brands to the mix? Dow Chemical and DuPont are reportedly in “advanced talks” to merge, creating a behemoth with combined sales of more than $90...more
The American Sustainable Business Council (ASBC) and the Green Chemistry & Commerce Council (GC3) recently released a report that evaluates the potential business and economic value of “safer chemistry.” ...more