Sanctions for procedural merger control infringements in 2024 did not meet the lofty heights of previous years. But merging parties should not be complacent. The number of infringement decisions increased. The U.S. and China...more
Regulatory intervention levels are rising. The concerns of antitrust authorities and foreign investment (FDI) regulators are evolving and can be unpredictable. Allocation of merger control execution risk in deal documents...more
3/5/2025
/ Antitrust Division ,
Antitrust Provisions ,
Competition ,
Department of Justice (DOJ) ,
European Commission ,
Foreign Direct Investment ,
Foreign Investment ,
Merger Controls ,
Mergers ,
Regulatory Requirements ,
Risk Management ,
Sellers
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
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
Merger control and foreign investment hurdles contributed to a challenging 2024 for M&A. 2025 looks more promising, with pro-business agendas and regulatory easing in key jurisdictions expected to fuel a surge in dealmaking...more
Traditionally, private equity firms were seen as benign investors from an antitrust perspective. This is changing. In the past 12 months, PE-funded acquisitions have faced progressively more rigorous scrutiny by antitrust...more
2/28/2024
/ Antitrust Division ,
Department of Justice (DOJ) ,
EU ,
Federal Trade Commission (FTC) ,
Hart-Scott-Rodino Act ,
Investment ,
Investors ,
Merger Controls ,
Private Equity ,
Private Equity Firms ,
UK ,
UK Competition and Markets Authority (CMA)
Global deal value and volume fell again in 2023, down 33% and 18% respectively compared to 2022. This is unsurprising, given persistently tough macroeconomic conditions and geopolitical tensions. Dealmakers are also facing an...more
2/28/2024
/ Antitrust Division ,
Antitrust Provisions ,
Antitrust Violations ,
Australia ,
Competition Authorities ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
Merger Controls ,
UK ,
UK Competition and Markets Authority (CMA)
We have collected and analysed data on merger control activity for 2022 from 26 jurisdictions. We give you the key trends and developments from the past year, focusing in particular on the EU, UK, U.S. and China.
...more
This newsletter is a summary of the antitrust developments we think are most interesting to your business. Louise Tolley, PSL Counsel based in London, is our editor this month (learn more about Louise in our Q&A feature at...more
3/29/2022
/ Antitrust Division ,
Antitrust Provisions ,
Competition ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
European Competition Network (ECN) ,
International Competition Network ,
Merger Controls ,
Mergers ,
Price-Fixing ,
UK Competition and Markets Authority (CMA)
Merger review processes are being impacted worldwide as merger control authorities adapt to take account of the consequences of Covid 19. While critical transactions are likely to be reviewed, as far as possible, in...more
Adverse economic or social conditions have not historically tended to affect the general application and enforcement of antitrust rules. This remains the overall position in the circumstances of Covid-19, with many antitrust...more
Adverse economic or social conditions have not historically tended to affect the general application and enforcement of antitrust rules. This remains the overall position in the circumstances of Covid-19, with many antitrust...more
Merger review processes are being impacted worldwide as merger control authorities adapt to take account of the consequences of Covid-19 coronavirus. While critical transactions are likely to be reviewed, as far as possible,...more
Merger review processes are being impacted worldwide as merger control authorities adapt to take account of the consequences of Covid-19. While critical transactions are likely to be reviewed, as far as possible, in...more
11/13/2020
/ Competition ,
Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Foreign Acquisitions ,
Foreign Investment ,
Infectious Diseases ,
Jurisdiction ,
Merger Controls ,
Regulatory Standards
Adverse economic or social conditions have not historically tended to affect the general application and enforcement of antitrust rules. This remains the overall position in the circumstances of Covid-19, with many antitrust...more
Merger review processes are being impacted worldwide as merger control authorities adapt to take account of the consequences of Covid-19. While critical transactions are likely to be reviewed, as far as possible, in...more
Adverse economic or social conditions have not historically tended to affect the general application and enforcement of antitrust rules. This remains the overall position in the circumstances of Covid-19, with many antitrust...more
This report presents our analysis of the application of merger control rules in 2016 by the antitrust authorities in 26 jurisdictions, focussing on the U.S., EU and China. We give you not only the headlines but the story...more