Introduction:

Allocation of antitrust risk is an issue that frequently arises between parties in mergers or acquisitions that raise potential antitrust concerns.

• Motivations of the buyer and the seller are the same:

- the buyer wants to minimize seller interference with:

(i) a timetable; and

(ii) decision to offer remedies.

- the seller wants to ensure that:

(i) deal can be done as soon as possible; and

(ii) remedies are provided in accordance.

- Antitrust lawyers play an essential role in the transaction process.

They should:

- advise the client on substantive antitrust issues raised by a proposed

concentration;

- prepare required antitrust notifications; and

- obtain the requisite antitrust approval.

In This Presentation:

I. Preliminary phase: Risk assessment of the transaction

II. Transitional phase

III. Post-closing phase