On October 24, 2024, the Federal Trade Commission (FTC) succeeded in blocking the proposed merger of Tapestry and Capri Holdings, which would combine popular fashion brands such as Coach, Kate Spade and Michael...more
On December 18, 2023, the Federal Trade Commission (FTC) and Antitrust Division of the Department of Justice (DOJ) released the final 2023 Merger Guidelines (the Guidelines). While the final version of the Guidelines reflects...more
12/22/2023
/ Acquisitions ,
Department of Justice (DOJ) ,
Draft Guidance ,
Federal Trade Commission (FTC) ,
Hart-Scott-Rodino Act ,
Horizontal Merger Guidelines ,
Merger Controls ,
Mergers ,
Proposed Regulation ,
Regulatory Agenda ,
Regulatory Requirements ,
Vertical Mergers
As US Antitrust Agencies Double Down on Merger Enforcement Approach, New Deal Strategies Emerge The DOJ and FTC continue to pursue an aggressive merger enforcement agenda with new merger guidelines and filing requirements....more
12/15/2023
/ Acquisitions ,
Antitrust Division ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
Federal Trade Commission (FTC) ,
Horizontal Mergers ,
Investment ,
Investors ,
Mergers ,
Mobile Ecosystems ,
Private Equity ,
Regulatory Reform ,
UK ,
Vertical Mergers
Key Points -
- New draft merger guidelines reflect the aggressive approach that has defined merger enforcement in the Biden administration, including novel theories of harm.
- Proposed changes to HSR notification will make...more
12/13/2023
/ Acquisitions ,
Antitrust Division ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Domestic Dealmaking ,
Draft Guidance ,
Enforcement ,
Federal Trade Commission (FTC) ,
Filing Requirements ,
Hart-Scott-Rodino Act ,
Mergers ,
Private Equity ,
Regulatory Agenda
As part of the Biden administration’s avowedly aggressive approach to antitrust enforcement, it has challenged a number of high-profile mergers in court over the past two and a half years. While the track record of the...more
11/14/2023
/ Acquisitions ,
Antitrust Division ,
Biden Administration ,
Competition ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Domestic Dealmaking ,
EU ,
Federal Trade Commission (FTC) ,
Investment ,
Investors ,
Mergers ,
Regulatory Agenda ,
Regulatory Oversight ,
Remedies ,
UK
Boards routinely confront an array of difficult issues. In this issue of The Informed Board, we tackle four of the thorniest and most topical:
- How to preserve the integrity of a deal process where a key fiduciary (say,...more
11/9/2023
/ Acquisitions ,
Artificial Intelligence ,
Board of Directors ,
Corporate Governance ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Fiduciary Duty ,
Information Sharing ,
Internal Investigations ,
Investment ,
Investors ,
IRS ,
Merger Controls ,
Mergers ,
Partnerships ,
Shareholders ,
Wealth Tax
The Federal Trade Commission (FTC) and Antitrust Division of the Department of Justice (DOJ) released a draft of proposed new merger guidelines today, 18 months after FTC Chair Lina Khan and Assistant Attorney General...more
Key Points Antitrust regulators in key jurisdictions are taking a more aggressive approach to merger reviews, resulting in delays and making the ultimate closing of some transactions uncertain. U.S. regulators have expressed...more
On December 2, 2021, the Federal Trade Commission (FTC or Commission) filed an administrative complaint challenging Nvidia’s $40 billion acquisition of Arm Ltd., a subsidiary of the Softbank Group. The Commission, which voted...more
To stay ahead of the feds, companies need to monitor their own data for possible compliance problems. Congress may soon give companies better visibility into their shareholder bases, including derivatives positions.
In this...more
10/8/2021
/ 10b5-1 Plans ,
Biden Administration ,
Board of Directors ,
Books & Records ,
Competition ,
Corporate Governance ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Federal Trade Commission (FTC) ,
Horizontal Merger Guidelines ,
Mergers ,
Section 220 Request ,
Securities and Exchange Commission (SEC)
On September 3, 2020, the Department of Justice's Antitrust Division (the DOJ) issued its new Merger Remedies Manual (the Manual), which provides the framework the DOJ will utilize going forward to implement relief in mergers...more
Recent enforcement actions by the Federal Trade Commission (FTC or Commission) and the Department of Justice (DOJ) demonstrate the agencies’ continued close scrutiny of merging parties’ compliance with divestiture orders....more
8/24/2020
/ Acquisitions ,
Antitrust Investigations ,
Civil Monetary Penalty ,
Compliance ,
Compliance Monitoring ,
Corporate Counsel ,
Corporate Fines ,
Deadlines ,
Department of Justice (DOJ) ,
Divestiture ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Litigation Fees & Costs ,
Merger Controls ,
Mergers ,
Reporting Requirements ,
Settlement Agreements
On April 12, the Federal Trade Commission held a hearing to debate the extent to which the FTC should use retrospective reviews to strengthen merger enforcement. This was the latest in the series of hearings on Competition...more
4/26/2019
/ Acquisitions ,
Administrative Hearings ,
Anti-Competitive ,
Antitrust Investigations ,
Antitrust Provisions ,
Competition ,
Enforcement ,
Federal Trade Commission (FTC) ,
FTC Commissioners ,
Merger Controls ,
Mergers ,
Political Parties
The Federal Trade Commission’s (FTC) Bureau of Competition has established a task force dedicated to monitoring competition in U.S. technology markets and taking enforcement actions as warranted. While the remit of the task...more
4/23/2019
/ Anticompetitive Behavior ,
Antitrust Investigations ,
Competition ,
Data Privacy ,
Department of Justice (DOJ) ,
Emerging Technology Companies ,
Enforcement Actions ,
Federal Agency Taskforce ,
Federal Trade Commission (FTC) ,
Hospital Mergers ,
Mergers ,
Technology Sector
Skadden’s Antitrust and Competition Group and the economics firm Charles River Associates recently co-hosted the ninth annual “Antitrust in the Technology Sector: Policy Perspectives and Insights From the Enforcers” seminar...more
3/5/2019
/ Acquisitions ,
Antitrust Investigations ,
Artificial Intelligence ,
AT&T ,
Bid Rigging ,
Cartels ,
Cloud Computing ,
Collusion ,
Competition ,
Consumer Protection Laws ,
Data Privacy ,
Department of Justice (DOJ) ,
Digital Marketplace ,
EU ,
Federal Trade Commission (FTC) ,
FRAND ,
Innovation ,
Merger Controls ,
Mergers ,
Monopolization ,
No-Poaching ,
Online Platforms ,
Qualcomm ,
Reputational Injury ,
Social Media ,
Technology Sector ,
Time Warner ,
Vertical Mergers
Skadden’s Antitrust and Competition Group and the economics firm Charles River Associates recently hosted the eighth annual “Antitrust in the Technology Sector: Policy Perspectives and Insights From the Enforcers” seminar in...more
3/8/2018
/ Anticompetitive Behavior ,
Antitrust Provisions ,
Big Data ,
Cartels ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
Fines ,
FRAND ,
Gun-Jumping ,
Innovation ,
Mergers ,
Monopolization ,
Standard Essential Patents ,
Technology Sector
Antitrust merger enforcement historically has focused on horizontal mergers — consolidation of two firms that compete directly in the same space. This is especially true in the U.S., where antitrust authorities have...more
1/24/2018
/ Antitrust Investigations ,
Antitrust Violations ,
AT&T ,
Burden of Proof ,
Competition ,
Corporate Branding ,
Department of Justice (DOJ) ,
Dow Chemical ,
DuPont ,
European Commission ,
Federal Trade Commission (FTC) ,
Horizontal Mergers ,
Illegal Tying Arranegements ,
Innovation ,
IP License ,
Judicial Review ,
Life Sciences ,
LinkedIn ,
Merger Controls ,
Mergers ,
Microsoft ,
Multinationals ,
Qualcomm ,
Research and Development ,
Sales & Distribution Agreements ,
Tech Industry ,
Time Warner ,
Trump Administration ,
Vertical Mergers
In a continuation of recent Department of Justice (DOJ) successes challenging mergers, the U.S. District Court for the District of Columbia recently enjoined two more proposed mergers brought and litigated under the Obama...more
2/14/2017
/ Acquisitions ,
Aetna ,
Affordable Care Act ,
Anthem Insurance ,
Anti-Competitive ,
Antitrust Division ,
CIGNA ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Health Insurance ,
Humana ,
Medicare Advantage ,
Mergers ,
State Health Insurance Exchanges
Republican administrations historically have taken a less interventionist approach to antitrust enforcement than their Democratic counterparts, but many of President Donald Trump’s policy positions have not tracked...more
On November 28, 2016, the Premerger Notification Office of the Federal Trade Commission (PNO) and the Antitrust Division of the Department of Justice (DOJ) both announced potentially important changes in the way the agencies...more
On May 17, 2016, one week after announcing his decision, Judge Emmet Sullivan of the U.S. District Court for the District of Columbia released a public version of his opinion siding with the Federal Trade Commission in its...more
On May 10, 2016, Judge Emmet G. Sullivan of the U.S. District Court for the District of Columbia released his highly anticipated decision in the matter of Staples’ acquisition of Office Depot, granting the Federal Trade...more
On February 18, 2016, Skadden’s Antitrust and Competition Group presented the webinar “Trends and Developments in Merger Control.” The webinar, led by partners Steven Sunshine and Maria Raptis and counsel Kenneth Schwartz,...more
Merger activity in 2015 was at its highest level in years, and competition authorities in the U.S. and European Union continued to be very aggressive, challenging a number of high-profile deals in court and causing some...more
1/22/2016
/ Antitrust Investigations ,
Comcast ,
Competition ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Enforcement Actions ,
European Commission ,
FCC ,
Federal Trade Commission (FTC) ,
General Electric ,
Mergers ,
Office Depot ,
Remedies ,
Staples ,
Sysco ,
Time Warner ,
Young Lawyers
On September 24, 2015, the U.S. District Court for the Northern District of Ohio denied the Federal Trade Commission’s (FTC) bid to enjoin Steris Corporation (Steris) from acquiring its alleged potential competitor, Synergy...more