On September 3, 2024, the European Union’s Court of Justice (ECJ) issued its highly anticipated judgment in the Illumina/Grail case (C-611/22 P and C-625/22 P) concerning the European Commission’s (EC’s) power to review...more
As a new policy statement from the European Commission (EC) treats wage-fixing and no-poach agreements as inherently anticompetitive (restriction of competition “by object”) with few possible defences, companies should...more
The United Kingdom’s Digital Markets, Competition and Consumers Act (the Act) received royal assent on 24 May 2024. The Act introduces wide-ranging amendments to the UK competition and consumer law regimes that expand the...more
5/29/2024
/ Anti-Competitive ,
Antitrust Provisions ,
Breach of Competition Law ,
Competition Act ,
Digital Markets Strategy ,
Enforcement ,
Investigations ,
Jurisdiction ,
Jurisdictional Thresholds ,
Merger Controls ,
Mergers ,
Misleading Statements ,
Penalties ,
Price Inflation ,
Safe Harbors ,
UK ,
UK Competition and Markets Authority (CMA)
The Digital Markets, Competition and Consumers Act (DMCC or the Act), adopted on 24 May 2024, empowers the Competition and Markets Authority (CMA) to regulate the conduct of major tech platforms....more
5/29/2024
/ Appeals ,
Corporate Counsel ,
Digital Marketplace ,
Digital Markets Strategy ,
Enforcement ,
EU ,
European Commission ,
Noncompliance ,
Reporting Requirements ,
Technology Sector ,
UK ,
UK Competition and Markets Authority (CMA)
As US Antitrust Agencies Double Down on Merger Enforcement Approach, New Deal Strategies Emerge The DOJ and FTC continue to pursue an aggressive merger enforcement agenda with new merger guidelines and filing requirements....more
12/15/2023
/ Acquisitions ,
Antitrust Division ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
Federal Trade Commission (FTC) ,
Horizontal Mergers ,
Investment ,
Investors ,
Mergers ,
Mobile Ecosystems ,
Private Equity ,
Regulatory Reform ,
UK ,
Vertical Mergers
Key Points -
- EU competition regulators are increasingly considering “ecosystems” of products and services in their analysis of the competitive impact of mergers — a framework that often does not fit with the historical...more
12/14/2023
/ Competition ,
Corporate Counsel ,
Department of Justice (DOJ) ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
Innovative Technology ,
Mergers ,
Regulatory Agenda ,
UK ,
UK Competition and Markets Authority (CMA)
On October 12, 2023, the UK’s Competition and Markets Authority (CMA) issued its final Green Agreements Guidance (Guidance). The Guidance is designed to help businesses seeking to collaborate on environmental sustainability...more
11/13/2023
/ Anti-Competitive ,
Antitrust Division ,
Competition ,
Enforcement ,
Environmental Social & Governance (ESG) ,
EU ,
Horizontal Agreements ,
New Guidance ,
Sustainability ,
UK ,
UK Competition and Markets Authority (CMA)
Starting today, October 12, 2023, the mandatory notification requirements under the EU’s Foreign Subsidies Regulation (FSR) apply. M&A deals involving businesses that (i) have been granted certain levels of financial support...more
On 12 July 2023, the EU’s Foreign Subsidies Regulation (FSR) entered into force. The FSR allows the European Commission (EC) to investigate and remedy subsidies received from non-EU countries that distort the EU internal...more
7/18/2023
/ Acquisitions ,
Disclosure Requirements ,
EU ,
European Commission ,
Filing Requirements ,
Financial Services Industry ,
Foreign Direct Investment ,
Foreign Subsidiaries ,
Investigations ,
Investment ,
Mergers ,
Pre-Merger Filing Requirements ,
Private Equity ,
Required Documentation ,
Subsidies
On April 25, 2023, the UK Government published its long-awaited Digital Markets, Competition and Consumers Bill (Bill) which, among other things, introduces a new ex ante regulatory regime for digital markets. The Bill...more
On 25 April 2023, the UK government published the Digital Markets, Competition and Consumers Bill (Bill), which will introduce wide-ranging amendments to the UK competition and consumer law regimes that expand the powers of...more
The European Union’s Digital Markets Act (DMA) was published in the Official Journal of the EU on 12 October 2022. The legislation, which regulates large technology platforms, enters into force on 1 November 2022 (20 days...more
Takeaways - With increasingly aggressive antitrust and foreign investment reviews, directors need to be fully informed about the risks of deals from the beginning of negotiations. Boards should insist that management and its...more
If you (i) receive some form of financial support from foreign (non-EU) governments, and (ii) have activities or are planning to acquire a business in the EU, then you will want to read on....more
7/13/2022
/ Competition ,
EU ,
European Commission ,
European Merger Control Regulation ,
Foreign Subsidies ,
Member State ,
Merger Controls ,
Mergers ,
Public Procurement Policies ,
State Aid ,
State-Owned Enterprises
On 31 May 2022, Skadden, Compass Lexecon and Concurrences convened for a fireside chat to discuss developments in merger control and digital markets, followed by a panel discussion on a range of issues, including the...more
On April 20, 2022, the U.K. government announced amendments to the U.K. competition and consumer law regimes....more
The European Commission (Commission) is accepting public comment on its proposed revisions to European Union regulations and guidance on common competitor cooperation arrangements, which are due to expire on 31 December 2022....more
This year, we expect to see new disclosure requirements; rule changes at the Securities and Exchange Commission that will affect directors; activists adopting new tactics; changes to shareholder voting processes; tax and...more
On January 26, 2022, the EU General Court (the Court) annulled the European Commission’s (the Commission) decision that Intel had abused its dominant position regarding its x86 central processing unit (CPU) computer chips and...more
Takeaways -
More than 50 countries now have the discretion to conduct competition reviews of mergers below mandatory notification thresholds, and the European Commission, EU member states, the U.K. and others are using...more
The European Commission (EC) signals relaxation of its strict anti-subsidy regime to encourage national aid for semiconductor manufacturing capabilities. Member states will have more freedom to provide government support to...more
The UK’s Competition and Markets Authority (CMA) fined Facebook £50.5 million for breaching an order to hold separate its acquisition target, Giphy, pending the CMA’s review of the merger....more
On September 22, 2021, the European General Court issued its judgment upholding the decision by the European Commission (Commission) to fine Altice for gun-jumping in the acquisition of Portugal Telecom (PT) in 2015. The...more
The U.K. government is consulting on far-reaching reforms to U.K. competition and consumer laws, which would substantially expand the powers of the Competition and Markets Authority (CMA) and reduce procedural protections....more
The European Union and United Kingdom have each proposed modifications of their antitrust rules on distribution. The proposals diverge significantly on common distribution practices, creating legal challenges for distribution...more