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Hogan Lovells

DOJ Antitrust Chief outlines “America First Antitrust” philosophy

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In a speech at Notre Dame Law School on April 28, 2025, Gail Slater, Assistant Attorney General (AAG) for the Department of Justice (DOJ) Antitrust Division, provided a detailed summary of her approach to antitrust...more

Mogin Law LLP

UK Approves Amex GBT’s Big Travel Merger, But DOJ Suit Forces Pause

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The United Kingdom’s Competition and Markets Authority (CMA) has approved the proposed merger of American Express Global Business Travel Group (Amex GBT) and Carlson Wagonlit Travel (CWT Holdings LLC), a global travel and...more

BCLP

Embrace Tradition, Reject Modernity? Recent FTC and DOJ Deal Challenges Show Preference for Traditional Antitrust Theories of Harm

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Both the Federal Trade Commission (FTC) and Department of Justice (DOJ) Antitrust Division have now brought cases challenging deals under President Trump’s administration. In many respects, the theories of harm alleged in...more

Goodwin

FTC’s First Merger Challenge Under New Leadership Signals Return to Traditional Antitrust Theories in Private Equity Deals

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On March 6, 2025, the Federal Trade Commission (FTC) filed a lawsuit in federal court challenging GTCR BC Holdings, LLC's (GTCR) proposed acquisition of Surmodics, Inc. (Surmodics). The complaint alleges that the transaction...more

A&O Shearman

United States District Court Rejects FTC’s Attempt To Block Tempur Sealy And Mattress Firm Vertical Merger

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On January 31, 2025, the United States District Court for the Southern District of Texas denied the Federal Trade Commission’s (FTC) motion for a preliminary injunction to block the $4 billion acquisition of Mattress Firm by...more

Axinn, Veltrop & Harkrider LLP

GTCR / Surmodics: Four Key Takeaways for M&A Antitrust from the First FTC Merger Challenge Under Trump

In the FTC’s first merger challenge of the new administration, the FTC voted 4-0 last week to challenge the proposed acquisition of Surmodics by private equity firm GTCR BC Holdings (“GTCR”). As the Trump administration’s...more

Axinn, Veltrop & Harkrider LLP

Antitrust Enforcement in Energy M&A in the Trump Era — 4 Issues to Watch

As CERAWeek begins in Houston, dealmakers in the energy sector will surely be asking how the second Trump Administration antitrust enforcers will treat energy deals. As a prelude, no industry has a longer history with...more

McDermott Will & Emery

SB 1998 Would Add Consent Requirement for PE, Hedge Fund Healthcare Transactions in Illinois

On February 6, 2025, the Illinois state legislature introduced Senate Bill (SB) 1998, aiming to implement an additional layer of scrutiny to covered transactions that are financed by private equity groups or hedge funds. The...more

A&O Shearman

Merger control frustrates more M&A, but are the tides turning?

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Antitrust authorities killed more deals in 2024, marking a third year of rising mortality levels. Where prohibition was on the cards, many dealmakers abandoned their transactions rather than staying the course. The U.S....more

A&O Shearman

Antitrust authorities’ skepticism of merger remedies causes headwinds for dealmakers

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The number of deals cleared with conditions fell sharply in 2024. Many antitrust authorities remained skeptical of whether merger remedies can effectively address antitrust concerns, choosing instead to challenge and...more

Vedder Price

FTC and DOJ Affirm Commitment to Biden-Era Merger Guidelines

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Federal Trade Commission Chairman Andrew Ferguson announced to FTC staff on February 18 that the FTC would retain the 2023 Merger Guidelines as the framework for reviewing mergers and acquisitions. Citing the need for...more

Axinn, Veltrop & Harkrider LLP

Competition Law Developments in Germany: Three Things We Are Watching

As counsel to global companies, we often guide clients through not just U.S. antitrust issues, but also through a global antitrust landscape. Whether it is a merger or a business practice, it is crucial to understand how all...more

Vinson & Elkins LLP

10 Key Takeaways on Addressing Antitrust Risk in M&A Transactions

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On February 10, Vinson & Elkins LLP’s Hill Wellford, co-chair of the firm’s antitrust group, and Kara Kuritz, an antitrust transactional partner, presented a PLI briefing “Antitrust in Transactions.” During their talk about...more

Axinn, Veltrop & Harkrider LLP

HSR Overhaul Goes Into Effect

In a significant milestone for antitrust merger practice and after considerable uncertainty, new HSR rules came into effect today, February 10, 2025. Companies engaged in M&A now face higher burdens in preparing filings,...more

Axinn, Veltrop & Harkrider LLP

A Vertical Merger in a “Horizontal” Market: Court Rejects FTC’s Challenge to Tempur Sealy’s Acquisition of Mattress Firm

On January 31, 2025, the U.S. District Court for the Southern District of Texas denied the Federal Trade Commission’s request for a preliminary injunction to block Tempur Sealy’s (the world’s largest mattress manufacturer)...more

King & Spalding

What is the Future of Antitrust Enforcement Under Trump 2.0?

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With the Trump 2.0 transition proceeding at breakneck pace, many are questioning how the new administration will approach antitrust policy and enforcement, and how much of the Biden Administration antitrust agenda will be...more

Wilson Sonsini Goodrich & Rosati

FTC's Bid to Stop Mattress Merger Put to Rest

The Federal Trade Commission’s (FTC’s) failure to obtain a preliminary injunction to block Tempur Sealy’s $4 billion proposed acquisition of Mattress Firm is yet another loss in a string of failed vertical challenges by the...more

Axinn, Veltrop & Harkrider LLP

New Trump Administration Files First Merger Lawsuit Seeking to Block HPE/Juniper

In the first merger challenge of the second Trump Administration, on January 30, the U.S. Department of Justice (“DOJ”) Antitrust Division filed suit seeking to block Hewlett Packard Enterprise Company’s (“HPE’s”) proposed...more

Holland & Knight LLP

Less Is More? Implications of the DOJ's $650 million Action Against KKR & Co.

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A Look at How Future Disclosures Under the Hart-Scott-Rodino Act Could Be Affected - The U.S. Department of Justice (DOJ) on Jan. 14, 2025, brought an action in the U.S. District Court for the Southern District of New York...more

Smith Anderson

Updates to HSR Reporting Thresholds and Merger Filing Fees Announced for 2025

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The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) requires parties to transactions meeting certain size thresholds to make notification filings with the Federal Trade Commission (FTC) and the Antitrust Division...more

Dorsey & Whitney LLP

Increase in HSR Reportability Thresholds and Filing Fees, and Other HSR Developments

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These announcements come alongside the impending overhaul of the Hart-Scott-Rodino (HSR) Act filing process scheduled to take effect on February 10, 2025—subject to potential delay based on President Trump’s January 20, 2025...more

Fenwick & West LLP

The Start of the Deal? What Antitrust Enforcement and M&A Will Look Like Under Trump’s Second Presidency

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When President Biden appointed Lina Khan to lead the Federal Trade Commission, and Jonathan Kanter to lead the Antitrust Division of the Department of Justice, he staked out an energetic new approach to antitrust enforcement...more

Morgan Lewis

2024 Antitrust & Competition Year in Review and Trends for 2025

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The past year marked the culmination of the Biden antitrust era. Under assertive leadership, the Federal Trade Commission (FTC) and the United States Department of Justice Antitrust Division (DOJ) adopted a more aggressive...more

Polsinelli

Annual Adjustment of HSR Thresholds Comes at a Time of Uncertainty

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There is a lot of uncertainty in the Hart-Scott-Rodino Act (HSR) world. The new rules on what must be included in an HSR filing have been issued and are due to take effect on February 10, 2025, but that could be derailed or...more

Vinson & Elkins LLP

2024 Chemicals & Energy Antitrust Report

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The re-election of former President Donald J. Trump is poised to significantly alter the landscape of antitrust enforcement, particularly within the energy and chemical industries. While the incoming administration has yet to...more

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