This article is part of a monthly column that considers the significance of recent Federal Trade Commission announcements about antitrust issues. In this installment, we discuss notable takeaways from the agency's recent...more
One of the most common questions clients have after a merger or acquisition has been signed is, “When can we start on combining the operations and doing business?” And one of the most challenging pieces of counseling is to...more
Three crude oil producers have agreed to pay civil penalties totaling $5.7 million to settle allegations that they engaged in “gun jumping,” namely, allowing the acquirer to exercise control over the target’s business conduct...more
Crude oil producers XCL Resources Holdings, LLC (XCL), Verdun Oil Company II LLC (Verdun), and EP Energy LLC (EP) have agreed to pay a $5.6 million civil penalty to settle violations under Section 7A of the Clayton Act, as...more
The Federal Trade Commission (FTC) has imposed a record-breaking $5.6 million fine on XCL Resource Holdings, LLC (XCL), Verdun Oil Company II LLC (Verdun), and EP Energy LLC (EP) to settle allegations that they engaged in...more
The Federal Trade Commission (FTC) rang in the new year this week by announcing that three crude oil producers had agreed to pay a $5.6 million fine to settle claims that they engaged in unlawful “gun-jumping” by prematurely...more
Oil companies ordered to pay $5.6 million for exerting beneficial control before the expiration of the mandatory HSR waiting period. On January 7, 2025, the Federal Trade Commission (“FTC”) filed and resolved a merger...more
On August 5, 2024, the United States Department of Justice (“DOJ”) filed a rare[1] gun jumping[2] civil lawsuit and proposed settlement in the United States District Court for the Southern District of New York against Legends...more
On 10 April 2024, Australia’s Federal Government announced far-reaching reforms to its merger control regime, most notably the introduction of a new single, mandatory and suspensory, merger control system. The reform package...more
The Cabinet of Ministers in Egypt has recently approved the Executive Regulations accompanying the newly revised Egyptian Competition Law. This endorsement represents a pivotal phase in the legislative evolution that...more
An EU Advocate General has advised that an appeal brought by Altice should be dismissed in its entirety – in effect confirming the validity of a 2018 European Commission decision imposing a record fine on Altice for breaching...more
In 2022, the French Competition Authority (the "FCA") maintained a high level of activity, focusing notably on digital markets, which remain one of its key priorities. Last year also brought the first successful failing firm...more
As we enter 2023, the European Commission is redoubling its efforts to scrutinise transactions on a variety of bases. The focus has been on the digital sector for some time, but the impact of the Commission’s expanding...more
UNIQUE GUN-JUMPING CASE SANCTIONED BY FRENCH COMPETITION AUTHORITY - A new European gun-jumping decision, following the European Court of Justice 2022 Marine Harvest judgment, sends a very strong message to companies that...more
On 18 May 2022, the European General Court rejected Canon’s appeal against a €28 million fine imposed by the European Commission in 2019 for its breach of EU gun-jumping rules, just a few months after a similar judgment,...more
On 28 April 2022, the Moroccan Competition Authority (“MCA”) imposed its first ever fine for failure to notify, i.e., gun jumping. The fine was imposed on a Swiss company, Sika AG, in the context of its acquisition of a...more
The French Competition Authority ("FCA") fines a company for gun-jumping in a case relating to a progressive takeover and de facto control - On 12 April 2022, the FCA fined the Compagnie Financière Européenne de Prises de...more
Takeaways - More than 50 countries now have the discretion to conduct competition reviews of mergers below mandatory notification thresholds, and the European Commission, EU member states, the U.K. and others are using...more
In the midst of the Homeric battle between Veolia and its takeover target, Suez, the European Commission rejects Suez's gun-jumping claim and provides further clarifications on the scope of the exemption to the standstill...more
With Brexit now just a few days away, deal makers are brushing up their knowledge of the UK's merger control regime. One notable feature of the system in the UK is the strict stance that the Competition and Markets Authority...more
On 27 June 2019 the European Commission imposed a fine of €28 million on the Japanese imaging and optical products manufacturer Canon for “gun-jumping” by using a warehousing structure in its 2016 acquisition of Toshiba...more
Antitrust and Competition - Gun jumping attracts increased scrutiny by the European Commission - The European Commission continues its scrutiny against breaches of the procedural obligations in the framework of the EU merger...more
On 24 April 2018, the European Commission fined multinational telecoms company Altice €124.5 million (c.$150 million) for breaching EU merger control rules by implementing its acquisition of Portuguese telecoms operator PT...more
The Situation: The Federal Trade Commission ("FTC") recently published a blog post reminding merging parties to avoid creating antitrust liability through the exchange of competitively sensitive information during merger...more
The EU and U.S. competition authorities have been and remain active in enforcing gun-jumping cases, while in recent years other competition authorities across the world, including in China, have also become increasingly...more