As previously highlighted in our inaugural Akin Agency Transparency In Merger Enforcement (TIME) Report, merger enforcement transparency fell to an all-time low under the Biden administration. A key driver towards that trend was the prior administration’s unwillingness to enter into settlements. Assistant Attorney General Jonathan Kanter made his skepticism of merger settlements clear soon after taking office, warning in January 2022 settlements should be the “exception, not the rule.” From that point forward, Kanter’s tenure saw no formal merger settlements before litigation.
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