Private equity investments
FTC's merger remedies study
A CFIUS Roundup: Polaris Financial
The Federal Trade Commission’s May 1, 2026 consent order involving “micromarket kiosk” companies illustrates how the agency is applying modern merger enforcement principles beyond the big technology platforms that typically...more
On April 15, 2026, a federal jury found Live Nation liable for monopolization. The case was initially filed by the U.S. Department of Justice (DOJ) and joined by 40 attorneys general (AGs) from the states and the District of...more
When companies sell part of their business, nonqualified deferred compensation (NQDC) plans present business choices shaped by unique legal considerations. In particular, Section 409A of the Internal Revenue Code (IRC),...more
Live Nation Entertainment, Inc. (“Live Nation”), which acquired Ticketmaster in 2010, recently reached a surprise mid-trial settlement with the U.S. Department of Justice (“DOJ”) in a high-profile antitrust case in the...more
The U.S. Senate on March 12, 2026, passed its version of the 21st Century ROAD to Housing Act (H.R. 6644) by a vote of 89-10. The bill now returns to the U.S. House of Representatives for further consideration....more
This week, the Department of Justice announced a tentative settlement in its long-running antitrust lawsuit against Live Nation. The deal—revealed one week into trial—addresses the company’s allegedly monopolistic conduct and...more
Merger control authorities remained active in Q4 2025, reviewing transactions across the healthcare, manufacturing, and consumer goods sectors. In the United States, courts and regulators issued rulings in cases involving...more
Several industrial companies have recently implemented transactions to permanently divest legacy contingent liabilities. In these transactions, the divesting company transfers ownership of an entity holding specified legacy...more
On January 2, 2026, President Trump issued an executive order (the “Order”) under Section 721 of the Defense Production Act of 1950 (50 U.S.C. § 4565) forcing divestiture by HieFo Corporation (“HieFo”), a California-based...more
At the end of what was a transformational year for UK merger control policy, the UK Competition and Markets Authority (CMA) published revised guidance on its approach to merger remedies (Revised Guidance). The upshot: the CMA...more
On January 2, President Trump issued an Executive Order (EO) under Section 721 of the Defense Production Act of 1950 requiring HieFo Corporation to divest the digital chips business of EMCORE Corporation, which it acquired in...more
On January 2, 2026, President Donald Trump issued an Order (the “Order”) requiring HieFo Corporation (“HieFo”), a Delaware entity co-founded by Dr. Genzao Zhang and Harry Moore, to unwind its 2024 acquisition of certain...more
The French Competition Authority (“FCA”) has just published two particularly interesting decisions...more
The Federal Trade Commission has finalized a consent order resolving antitrust concerns raised by Alimentation Couche-Tard Inc.’s (ACT) $1.57 billion acquisition of 270 retail fuel outlets from Giant Eagle, Inc., which...more
Following a victory in court, leading private equity firm GTCR has announced it intends to promptly close its acquisition of medical device coating manufacturer Surmodics, putting an end to an unsuccessful challenge from the...more
Our Antitrust Team examines a recent federal district court decision rejecting a challenge by the Federal Trade Commission (FTC) to a merger of medical device coatings suppliers....more
On November 10, 2025, U.S. District Judge Jeffrey Cummings of the Northern District of Illinois (“N.D. Ill.”) issued an oral decision declining to block GTCR BC LLC’s (“GTCR”) proposed $627 million acquisition of Surmodics,...more
The government lost the first merger challenge brought by the FTC under the second Trump administration. On November 10, 2025, Judge Jeffrey Cummings of the Northern District of Illinois denied a request for a preliminary...more
This article is part of a monthly column that considers the significance of recent Federal Trade Commission announcements about antitrust issues. This installment checks in on the Trump FTC's progress on merger enforcement on...more
The healthcare industry has long been under the microscope of antitrust regulators, with a focus on preserving cost-effectiveness, improving access, and ensuring high-quality care. The Trump administration is putting on its...more
The Committee on Foreign Investment in the United States has released its Annual Report to Congress, noting a continued reduction in filings in 2024, a significant decrease in the use of mitigation measures, and increased use...more
Market pressures, regulatory changes, and capital requirements are driving health systems to reassess the role of provider-sponsored health plans (PSHPs) in their broader enterprise strategies. In many cases, these...more
A significant milestone was reached this week in the Justice Department’s antitrust litigation against Google regarding its internet search business. U.S. District Judge Amit P. Mehta issued a 230-page ruling on remedies...more
Healthcare remains a key area of focus for antitrust regulators in the first six months of the Trump administration. The Federal Trade Commission (FTC) and the Department of Justice (DOJ) have for the most part stuck to prior...more
On August 7, the DOJ and four state attorneys general announced a settlement to resolve their challenge to the $3.3 billion acquisition of Amedisys, Inc. (“Amedisys”) by UnitedHealth Group Inc. (“UnitedHealth”), as well as...more