APRIL – JUNE 2022: KEY THEMES AND TAKEAWAYS -
UNITED STATES -
• An Overview of Agency Merger Challenges from January 2021 through June 2022 Parties continue to be cautious in litigating challenged transactions. Since...more
9/26/2022
/ Acquisitions ,
Competition ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
Foreign Subsidies ,
Hart-Scott-Rodino Act ,
Healthcare ,
Investment ,
Mergers ,
National Security ,
Pharmaceutical Industry ,
Private Equity ,
UK ,
UK Competition and Markets Authority (CMA)
WHAT HAPPENED -
During a conference last week, Ryan Danks, Director of Civil Enforcement at the US Department of Justice’s Antitrust Division (DOJ), suggested that merging parties—not the antitrust enforcement...more
JANUARY – MARCH 2022: HIGHLIGHTS -
UNITED STATES -
• The US antitrust agencies continue with their aggressive merger enforcement posture. The agencies challenged four transactions this quarter, including multiple...more
5/6/2022
/ Acquisitions ,
Antitrust Division ,
Department of Justice (DOJ) ,
Enforcement ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
Investigations ,
Merger Controls ,
Merger Remedies ,
Mergers ,
UK ,
UK Competition and Markets Authority (CMA)
OCTOBER – DECEMBER 2021:
HIGHLIGHTS UNITED STATES -
• Both antitrust agencies have now filled senior leadership positions, although the Federal Trade Commission (FTC) awaits the appointment of a fifth commissioner....more
JULY – SEPTEMBER 2021: HIGHLIGHTS -
UNITED STATES -
• The US Department of Justice’s (DOJ) challenge of American Airlines and JetBlue’s “Northeast Alliance” after the joint venture’s approval by the US Department of...more
10/29/2021
/ Antitrust Provisions ,
Biden Administration ,
Department of Justice (DOJ) ,
Department of Transportation (DOT) ,
EU ,
EUMR ,
European Commission ,
Executive Orders ,
Federal Trade Commission (FTC) ,
Joint Venture ,
Jurisdictional Thresholds ,
Mergers ,
UK ,
UK Competition and Markets Authority (CMA) ,
Vertical Mergers
APRIL – JUNE 2021: HIGHLIGHTS -
UNITED STATES -
- The premerger notification landscape continues to shift as filings reach another record high, and the US Congress contemplates increases to filing fees and New York...more
8/6/2021
/ Acquisitions ,
Antitrust Division ,
Biden Administration ,
Department of Justice (DOJ) ,
Emerging Technology Companies ,
Enforcement ,
EU ,
EUMR ,
European Merger Control Regulation ,
Federal Trade Commission (FTC) ,
Filing Fees ,
Hart-Scott-Rodino Act ,
Mergers ,
Pre-Merger Filing Requirements ,
Proposed Regulation ,
UK ,
UK Competition and Markets Authority (CMA)
The US Federal Trade Commission (FTC) voted July 21, 2021, to repeal a 1995 policy statement that eliminated prior approval and prior notice provisions from most merger settlements. In repealing this longstanding policy—and...more
JANUARY – MARCH 2021: HIGHLIGHTS -
UNITED STATES -
- As the United States rounds the corner toward getting the COVID-19 epidemic under control within its borders, the US antitrust enforcers have seen a major spike in...more
5/4/2021
/ Acquisitions ,
Competition ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
EU ,
European Merger Control Regulation ,
Federal Trade Commission (FTC) ,
Hart-Scott-Rodino Act ,
Healthcare ,
Merger Controls ,
Mergers ,
Premerger Notifications ,
Technology ,
UK
OCTOBER - DECEMBER 2020 UPDATE -
UNITED STATES -
Despite initial obstacles because of the COVID-19 pandemic, 2020 rounded out to be the busiest year for mergers and acquisitions (M&A) enforcement in the United States...more
2/8/2021
/ Acquisitions ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
Digital Markets Strategy ,
Enforcement Actions ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
Hart-Scott-Rodino Act ,
Investigations ,
Mergers ,
Premerger Notifications ,
Proposed Rules ,
UK Competition and Markets Authority (CMA)
JULY - SEPTEMBER 2020 UPDATE -
UNITED STATES-
Mergers and acquisitions in the United States appear to be bouncing back after a muted start to the year due to COVID-19. Hart-Scott-Rodino (HSR) filings in Q3 2020 were up...more
10/26/2020
/ Acquisitions ,
Competition Authorities ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
EU Merger Directive ,
European Commission ,
Federal Trade Commission (FTC) ,
Filing Requirements ,
Hart-Scott-Rodino Act ,
Mergers ,
Premerger Notifications ,
UK ,
UK Competition and Markets Authority (CMA)
What Happened:
- The FTC and DOJ proposed new Hart–Scott–Rodino (HSR) rules that, if issued in final form, will significantly change HSR practice for Private Equity (PE) companies.
- The Proposed Rules are subject to...more
In the United States, despite requesting additional time to review pending mergers, the US antitrust agencies have continued their work through the COVID-19 pandemic. The Department of Justice (DOJ) and Federal Trade...more
9/3/2020
/ Coronavirus/COVID-19 ,
Corporate Counsel ,
Customers ,
Deadlines ,
Department of Justice (DOJ) ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
Investigations ,
Mergers ,
Remote Depositions ,
Remote Hearings ,
Settlement Agreements ,
UK ,
UK Competition and Markets Authority (CMA) ,
UK Competition Appeal Tribunal (CAT) ,
Videoconference
United States -
The Federal Trade Commission (FTC) and Department of Justice (DOJ) faced new issues this quarter with the unprecedented challenges brought about by the COVID-19 global pandemic. In March, the agencies made...more
In a prior note we provided guidance on COVID-19’s Impact on HSR Filing Timelines. The Agencies had indicated that early termination would not be granted while FTC operated on a temporary e-filing system...more
On March 24, 2020, the US Federal Trade Commission (FTC) and US Department of Justice (DOJ) issued a Joint Antitrust Statement Regarding COVID-19. In this statement, the FTC and DOJ recognize that public health efforts in...more
With COVID-19-related closures rolling in daily, you may have questions about the operating status of the federal government’s antitrust enforcement agencies. Currently, the HSR review process does not seem to be...more
Last month, the Department of Justice Antitrust Division (DOJ) and Federal Trade Commission (FTC) released updated Vertical Merger Guidelines in draft form. These guidelines provide a useful resource for aerospace and defense...more
Today the Federal Trade Commission (FTC) and the Food and Drug Administration (FDA) released joint guidance concerning competition for biologics, including biosimilars. The joint guidance seeks to enhance competition for...more
The US antitrust regulators continue to challenge consummated transactions. On January 3, 2020, the FTC filed an administrative complaint against Axon Enterprise, Inc., challenging its consummated acquisition of VieVu, a...more
1/20/2020
/ Acquisitions ,
Anti-Competitive ,
Antitrust Investigations ,
Antitrust Provisions ,
Competition ,
Constitutional Challenges ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Hart-Scott-Rodino Act ,
Mergers ,
Non-Compete Agreements ,
Non-Solicitation Agreements
For the first time since the Department of Justice Antitrust Division (DOJ) published non-horizontal merger guidelines in 1984, the DOJ and Federal Trade Commission (FTC) issued updated Vertical Merger Guidelines to explain...more
1/15/2020
/ Anti-Competitive ,
Antitrust Provisions ,
Comment Period ,
Competition ,
Department of Justice (DOJ) ,
Draft Guidance ,
Federal Trade Commission (FTC) ,
Information Sharing ,
Merger Controls ,
Mergers ,
Public Comment ,
Supply Chain ,
Vertical Mergers
Three recent antitrust merger reviews involving nascent competition demonstrate enforcers are paying close attention to acquisitions by industry leaders of emerging, but early-stage competitors. The US antitrust agencies have...more
The US agencies continue to be aggressive and have blocked transactions or required significant remedies during the second quarter. The agencies cleared three mergers where divestitures were required. In the face of Federal...more
8/28/2019
/ Acquisitions ,
Antitrust Violations ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
Federal Trade Commission (FTC) ,
French Competition Authority ,
Institutional Investors ,
Merger Controls ,
Mergers ,
Sherman Act
The US Department of Justice (DOJ) recently sued former joint venture partners because they allegedly coordinated their competitive activities beyond the legitimate scope of their venture. This case illustrates several...more
As highlighted in a recent lawsuit, aerospace and defense contractors can face various antitrust risks when using certain tactics to prevent other companies from hiring their employees. See Hunter v. Booz Allen Hamilton...more
2/19/2019
/ Aerospace ,
Anti-Competitive ,
Antitrust Violations ,
Criminal Investigations ,
Criminal Prosecution ,
Defense Sector ,
Department of Justice (DOJ) ,
Employment Litigation ,
Federal Contractors ,
Federal Trade Commission (FTC) ,
Former Employee ,
Hiring & Firing ,
Human Resources Professionals ,
No-Poaching ,
Non-Solicitation Agreements ,
Restrictive Covenants ,
Risk Management ,
Skilled Laborers
On January 28, the US Federal Trade Commission (FTC) announced that it had accepted a proposed settlement with office supply distributors Staples and Essendant in connection with Staples’ proposed $482.7 million acquisition...more