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Merger Agreements Federal Trade Commission (FTC) Mergers

McDermott Will & Emery

Antitrust M&A Snapshot - Q3 2023

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UNITED STATES - Proposed Merger Guidelines Outline Fundamental Change of Approach to Merger Investigation and Enforcement - On July 19, 2023, the Federal Trade Commission (FTC) and the US Department of Justice (DOJ)...more

McDermott Will & Emery

[Webinar] Healthcare M&A and New FTC and DOJ Merger Guidelines: What’s Next for Your Transactions? - August 9th, 12:30 pm - 1:30...

The FTC and DOJ’s proposed revised merger guidelines signal the Biden administration’s continued aggressive antitrust enforcement stance even as healthcare industry participants continue to seek to overcome the effects of...more

Wilson Sonsini Goodrich & Rosati

Amgen-Horizon: The FTC's First Litigated Pharmaceutical Merger Challenge in 14 Years and First Conglomerate Merger Challenge in...

On May 17, 2023, the Federal Trade Commission (FTC) challenged Amgen Inc.’s (Amgen) proposed acquisition of Horizon Therapeutics plc (Horizon). The complaint is significant in three respects....more

Skadden, Arps, Slate, Meagher & Flom LLP

US and EU Regulators Increase Scrutiny of Vertical Mergers

US Regulators Pursue an Expansive View of Antitrust Laws - For almost two years, industry participants have felt the effects of the Biden administration’s “big is bad” approach to antitrust — not only in technology sectors,...more

Akin Gump Strauss Hauer & Feld LLP

Recent M&A Developments: What Can Boards of Directors Expect in 2022?

Editor’s Note: Akin Gump is pleased to publish the first in a series of blog posts covering significant issues U.S. boards of directors may expect to face in 2022. In addition to ongoing pressures on the part of boards of...more

Perkins Coie

FTC Revives and Expands “Prior Approval” Policy

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On October 25, 2021, the U.S. Federal Trade Commission (FTC) released its “Statement on Use of Prior Approval Provisions in Merger Orders” (the Statement). The Statement announces two material changes in the agency’s merger...more

Akin Gump Strauss Hauer & Feld LLP

FTC Makes Major Changes to Expand Prior Approval in Merger Consents, Creating Greater Risk for Merging Parties Subject to FTC...

On Monday, October 25, the Federal Trade Commission (FTC or “Commission”) issued a policy statement announcing that the Commission will require all parties that enter into a merger consent agreement to agree that the parties...more

Epstein Becker & Green

Merger Reviews Likely to Address More Expansive—and Possibly New—Theories of Harm

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Previously, as a member of the Republican-controlled Federal Trade Commission (“FTC”), Commissioner Rebecca Kelly Slaughter chided both the FTC Staff and her fellow Commissioners for, in her estimation, a failure to consider...more

PilieroMazza PLLC

Purchase Agreement Components, Part 2: Indemnification Provisions

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In an acquisition, particularly an equity acquisition, a buyer must perform extensive due diligence on the target company to understand, as thoroughly as possible, the risks associated with the acquisition. In most cases,...more

Proskauer Rose LLP

Are Antitrust Risk Allocation Provisions in Merger Agreements Worthless?

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Megamergers that deprive the American consumer of competition are illegal. But the urge to merge is often so strong that antitrust risks rarely prevent behemoths from the attempt. Long before parties sign deals, issue press...more

Davis Wright Tremaine LLP

Update on U.S. Merger Review Procedures During COVID-19

The Federal Trade Commission's Premerger Notification Office (PNO) announced that, effective Monday, March 30, the PNO and Department of Justice Antitrust Division (DOJ) will resume the practice of granting early termination...more

Perkins Coie

“Reasonableness” Is in the Eye of the Beholder: Vague Contracts Clauses Invite Litigation

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Schick, the shaving product company, recently announced it was abandoning its proposed $1.4 billion acquisition of rival startup Harry’s Razors. The announcement followed the U.S. Federal Trade Commission’s (FTC) threat to...more

Proskauer Rose LLP

When Mergers Go Bad: How Merger Agreements Deal with Antitrust Risk in Today’s Market

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When parties begin merger talks, it is with an eye toward getting the deal done, getting the sellers their consideration, and determining how the combined company can do a better job for customers, employees and shareholders....more

Morris James LLP

Chancery Declines to Extend Rent-A-Center Merger Agreement, But Questions Request for Termination Fee

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Vintage Rodeo Parent, LLC v. B. Riley Financial, Inc., C.A. No. 2018-0927-SG (Del. Ch. Mar. 14, 2019). The merger agreement at issue in this case included provisions permitting extensions or terminations to account for...more

WilmerHale

More Bite, Less Bark: Merger Enforcement at the FTC in the Trump Administration

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Since the beginning of the Trump Administration, the Antitrust Division of the Department of Justice (DOJ) has captured headlines for its aggressive public stance regarding merger enforcement. Actions attracting attention...more

Epstein Becker & Green

Antitrust Analysis of Vertical Agreements in Multiprovider Health Care Networks

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Recent decisions outside of the health care industry—including the defeated efforts (at least at the district court level) to block the merger of AT&T and Time Warner and the recent decision from the Second Circuit upholding...more

Dechert LLP

DAMITT 2017 Year in Review – Number of Significant Antitrust Merger Investigations Declines in the US and Europe But...

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Fast Facts - The length of significant U.S. merger investigations climbed to an average of 10.8 months in 2017, a new DAMITT record, despite the number of investigations dropping by more than 20%. There are signs of a...more

Dechert LLP

2016/07/13 DAMITT Q2 2016 Update

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Fast Facts - - Significant merger investigations during the first half of 2016 lasted 9.5 months on average—on par with CY2015, but more than 30 percent longer than from 2011 to 2013. - In the first half of 2016,...more

Goodwin

Antitrust & Your Deal: Pre-Closing Conduct Matters

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There are three U.S. antitrust laws that regulate the diligence process, transition planning, and overall conduct between parties during deal negotiations and due diligence prior to closing: Section 7A of the Clayton Act...more

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