JANUARY – MARCH 2025: KEY THEMES AND TAKEAWAYS -
UNITED STATES -
FTC Loses Vertical Challenge to Tempur Sealy/Mattress Firm
On July 2, 2024, the US Federal Trade Commission (FTC) filed suit in federal court seeking to block...more
5/6/2025
/ Acquisitions ,
Anti-Competitive ,
Antitrust Division ,
Antitrust Litigation ,
Antitrust Violations ,
Big Tech ,
Competition ,
Enforcement Actions ,
Enforcement Priorities ,
EU ,
Federal Trade Commission (FTC) ,
Foreign Subsidies ,
Merger Controls ,
Merger Reviews ,
Mergers ,
Popular ,
Regulatory Agenda ,
Regulatory Requirements ,
Trump Administration ,
UK ,
UK Competition and Markets Authority (CMA) ,
Vertical Mergers
As the Trump administration’s antitrust landscape continues to develop, companies should stay alert to key changes in merger filing requirements, remedy expectations, agency personnel, and more. Signs indicate we are entering...more
4/16/2025
/ Acquisitions ,
Antitrust Division ,
Antitrust Litigation ,
Corporate Counsel ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Hart-Scott-Rodino Act ,
Mergers ,
Popular ,
Private Equity ,
Regulatory Reform ,
Trump Administration
Starting today, February 10, 2025, all merger filings will be subject to new Hart-Scott-Rodino (HSR) rules. The new HSR rules will fundamentally alter the premerger notification process, and substantially increase the...more
IN THIS JANUARY 2025 ISSUE -
In the fourth quarter of 2024, US antitrust regulators continued their rigorous scrutiny of mergers and acquisitions. The US Department of Justice (DOJ), under the leadership of the outgoing...more
On January 20, 2025, President-elect Donald J. Trump’s administration will come into power. The McDermott antitrust and competition team has analyzed the first Trump term, compared it to the Biden administration’s actions,...more
12/4/2024
/ Acquisitions ,
Biden Administration ,
Big Tech ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Legislative Agendas ,
Mergers ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Regulatory Requirements ,
Trump Administration
The US antitrust regulators continued to aggressively challenge transactions and associated Hart-Scott-Rodino (HSR) violations during the third quarter of 2024. The Federal Trade Commission (FTC) litigated two merger...more
11/1/2024
/ Acquisitions ,
Antitrust Division ,
Competition Authorities ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
EUMR ,
European Commission ,
Federal Trade Commission (FTC) ,
Filing Requirements ,
Hart-Scott-Rodino Act ,
Mergers ,
Pre-Merger Filing Requirements ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
UK ,
UK Competition and Markets Authority (CMA) ,
United States
On October 10, 2024, the Federal Trade Commission (FTC) voted 5-0 to issue new final rules (Rules) governing the US premerger notification filing process. These Rules – the first major overhaul to the Hart-Scott-Rodino (HSR)...more
UNITED STATES -
- Agencies Revisiting Consummated Mergers -
What’s old is new again, as agencies are increasingly scrutinizing consummated mergers from years past. In May 2024, the US Department of Justice (DOJ), Antitrust...more
7/29/2024
/ Acquisitions ,
Antitrust Division ,
Competition ,
Department of Health and Human Services (HHS) ,
Department of Justice (DOJ) ,
Energy Sector ,
EU ,
EUMR ,
Federal Trade Commission (FTC) ,
Mergers ,
Oil & Gas ,
Popular ,
Request For Information ,
UK ,
UK Competition and Markets Authority (CMA)
UNITED STATES -
New Merger Guidelines Deployed -
The 2023 Merger Guidelines are a non-binding statement that provides clarity on aspects of federal agencies’ deliberations and enforcement practices undertaken in...more
5/3/2024
/ Acquisitions ,
Artificial Intelligence ,
Department of Justice (DOJ) ,
Emerging Technologies ,
EU ,
Federal Trade Commission (FTC) ,
Foreign Investment ,
Healthcare ,
Horizontal Merger Guidelines ,
Merger Controls ,
Mergers ,
Private Equity ,
UK ,
Vertical Mergers
IN THIS FEBRUARY 2024 ISSUE -
UNITED STATES -
New Merger Guidelines Released -
The US Federal Trade Commission (FTC) and US Department of Justice Antitrust Division (DOJ) issued their updated Merger Guidelines on...more
2/14/2024
/ Acquisitions ,
Antitrust Division ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
EUMR ,
European Commission ,
Federal Trade Commission (FTC) ,
Mergers ,
Pharmaceutical Industry ,
Treaty on the Functioning of the European Union (TFEU) ,
Vertical Mergers
The US Federal Trade Commission (FTC) and US Department of Justice Antitrust Division (DOJ) issued their updated Merger Guidelines on December 18, 2023.
These guidelines represent a significantly more...more
12/22/2023
/ Acquisitions ,
Department of Justice (DOJ) ,
Draft Guidance ,
Federal Trade Commission (FTC) ,
Horizontal Merger Guidelines ,
Merger Controls ,
Mergers ,
Proposed Regulation ,
Regulatory Agenda ,
Regulatory Requirements ,
Vertical Mergers
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
10/27/2023
/ Acquisitions ,
Antitrust Division ,
Competition ,
Enforcement ,
EU ,
Federal Trade Commission (FTC) ,
Investigations ,
Merger Agreements ,
Merger Controls ,
Mergers ,
New Guidance ,
UK ,
UK Competition and Markets Authority (CMA)
APRIL – JUNE 2023: KEY THEMES AND TAKEAWAYS -
UNITED STATES -
• Federal Trade Commission Unveils Proposal Detailing Significant Changes to Hart-Scott-Rodino Act Merger Notifications On June 27, 2023, the Federal Trade...more
7/31/2023
/ Acquisitions ,
Department of Justice (DOJ) ,
EU ,
FCC ,
Federal Trade Commission (FTC) ,
Hart-Scott-Rodino Act ,
Merger Controls ,
Mergers ,
Notice of Proposed Rulemaking (NOPR) ,
Pharmaceutical Industry ,
Premerger Notifications
UNITED STATES -
Wilson Resigns as FTC Commissioner -
On February 14, the Federal Trade Commission’s (FTC’s) lone Republican commissioner, Christine Wilson, announced that she was resigning. Wilson explained her decision...more
4/21/2023
/ Acquisitions ,
American Bar Association (ABA) ,
Antitrust Provisions ,
Competition ,
Department of Justice (DOJ) ,
EU ,
Federal Trade Commission (FTC) ,
Foreign Subsidies ,
Healthcare ,
Horizontal Mergers ,
Investigations ,
Merger Controls ,
Mergers ,
Private Equity ,
Settlement Agreements ,
UK Competition and Markets Authority (CMA)
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
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)
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
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
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