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Vertical Mergers Corporate Counsel

A&O Shearman

Ninth Circuit Rules In Favor Of Merging Parties In Microsoft/Activision Appeal

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On May 7, 2025, the United States Court of Appeals for the Ninth Circuit affirmed a lower court opinion that denied the Federal Trade Commission’s (“FTC”) motion for a preliminary injunction against Microsoft’s acquisition of...more

Wilson Sonsini Goodrich & Rosati

FTC's Bid to Stop Mattress Merger Put to Rest

The Federal Trade Commission’s (FTC’s) failure to obtain a preliminary injunction to block Tempur Sealy’s $4 billion proposed acquisition of Mattress Firm is yet another loss in a string of failed vertical challenges by the...more

Fenwick & West LLP

4 Antitrust Enforcement Trends for 2024

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In the coming year, Federal Trade Commission (“FTC”) Chair Lina Khan and Department of Justice (“DOJ”) Assistant Attorney General of the Antitrust Division Jonathan Kanter are expected to continue to advance a more aggressive...more

Fenwick & West LLP

With Microsoft Complaint, Lina Khan’s FTC Takes on Another Big Tech Gaming Deal

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On December 8, 2022, the same day that the Federal Trade Commission (FTC) delivered its opening arguments to a federal judge in California in the FTC’s bid to halt Meta’s acquisition of virtual reality gaming company Within,...more

Skadden, Arps, Slate, Meagher & Flom LLP

US and EU Regulators Increase Scrutiny of Vertical Mergers

US Regulators Pursue an Expansive View of Antitrust Laws - For almost two years, industry participants have felt the effects of the Biden administration’s “big is bad” approach to antitrust — not only in technology sectors,...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

Wilson Sonsini Goodrich & Rosati

Home Court Disadvantage: In Illumina/Grail, FTC Loses Another Case Before Its Own Court

The Federal Trade Commission's (FTC's) in-house administrative law judge (ALJ) has handed the FTC a loss in its suit to reverse the completed acquisition of GRAIL, Inc. by Illumina, Inc. This is the FTC's second high-profile...more

White & Case LLP

Saudi Arabia’s General Authority for Competition blocks vertical merger in the gas sector for the first time

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On 16 June 2022, Saudi Arabia's General Authority for Competition announced its decision to block National Gas and Industrialization Company from acquiring a majority stake in Best Gas Carrier on the basis of vertical...more

Fenwick & West LLP

Historic Shift by the FTC on Vertical Merger Review, with More to Come

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In a departure from past enforcement priorities, the Federal Trade Commission has challenged three vertical mergers over the past year, leading the parties to abandon two of the three deals...more

Cadwalader, Wickersham & Taft LLP

FTC Sues to Block Lockheed’s Proposed Acquisition of Aerojet Rocketdyne in Milestone Defense Industry Vertical Challenge

The Federal Trade Commission (“FTC”) filed suit yesterday to block Lockheed Martin Corporation’s proposed $4.4 billion acquisition of Aerojet Rocketdyne Holdings Inc., announced back in December 2020. Aerojet, the last...more

Cooley LLP

Antitrust Trends to Look Out for in 2022

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One year into his administration, President Joe Biden has made clear that aggressive competition policy is on the agenda. With a team of progressives filling leadership roles at the Federal Trade Commission and in the...more

White & Case LLP

Four key antitrust events in Q4 2021 target labor markets and aim to protect workers: Here's what you need to know

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The focus on using the antitrust laws to target labor markets has been gaining momentum for years, but the close of 2021 saw the trend hit overdrive with antitrust attacks on perceived harm to workers coming from all corners...more

Haug Partners LLP

Lessons for 2022 – What to Take Away from the EU’s €2.4B Google Antitrust Fine

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On November 10, 2021, the European Union’s General Court issued a decision largely upholding the European Commission’s finding that Google abused its dominant position by favoring results from its own comparison-shopping...more

Vinson & Elkins LLP

FTC Sues to Block Nvidia’s Acquisition of Arm Ltd.

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On December 2, 2021, the Federal Trade Commission (“FTC”) announced that it had filed an administrative complaint (the “Complaint”) to block Nvidia Corp.’s (“Nvidia”) $40 billion acquisition of U.K. chip design provider Arm...more

McGuireWoods LLP

Biden Signs Sweeping Executive Order Designed to Expand Antitrust Regulation and Increase Enforcement

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On July 9, 2021 President Biden signed a sweeping executive order aimed at promoting competition in the United States by calling on federal agencies to promptly address what the administration views as “some of the most...more

Wilson Sonsini Goodrich & Rosati

2020 Antitrust Year in Review

Wilson Sonsini Goodrich & Rosati is pleased to present its 2020 Antitrust Year in Review, which provides a summary of the most significant antitrust matters and developments of the past year. The report examines the final...more

Wilson Sonsini Goodrich & Rosati

Risk Allocation in Merger Agreements in an Era of Increased Enforcement

Our antitrust practice is pleased to present a new report addressing the prevalence of risk-shifting provisions in merger agreements. As antitrust agencies continue to galvanize enforcement efforts, such provisions have...more

Foley & Lardner LLP

DOJ Issues Merger Remedies Manual – Structural Remedies “Strongly Preferred”

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On September 3, 2020, the Department of Justice Antitrust Division (DOJ) released a Merger Remedies Manual, updating its 2004 Policy Guide to Merger Remedies. (DOJ’s 2011 Policy Guide to Merger Remedies was withdrawn by DOJ...more

WilmerHale

Antitrust in 2020 - The Year To Date

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The first half of 2020 was a busy time for antitrust in the United States. The Department of Justice (DOJ) and the Federal Trade Commission (FTC) implemented expedited procedures for reviewing collaborations during the...more

Alston & Bird

Antitrust Agencies Propose Updated Guidance on Vertical Transactions

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Buying a competitor isn’t the only way to bring the attention of federal antitrust agencies. Our Antitrust and Mergers & Acquisitions Groups discuss new proposed guidance – the first in more than 25 years – for review of...more

Morrison & Foerster LLP

FTC & DOJ Provide Vertical Merger Guidance With Draft Guidelines

On January 10, 2020, the Federal Trade Commission (FTC) and Department of Justice (DOJ) issued draft Vertical Merger Guidelines for public comment. The draft guidelines outline potential theories of harm, the analytical...more

Wilson Sonsini Goodrich & Rosati

2019 Antitrust Year in Review

Wilson Sonsini Goodrich & Rosati (Wilson Sonsini) is pleased to present its 2019 Antitrust Year in Review, which summarizes the most significant antitrust matters and developments of the past year. Over the past few years,...more

A&O Shearman

Five Key Aspects of the Long-Awaited Revised Draft US Vertical Merger Guidelines

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On Friday, the Federal Trade Commission (“FTC”) and the Antitrust Division of the U.S. Department of Justice (“DOJ”) released joint draft Vertical Merger Guidelines (“Guidelines”) for public comment. This much anticipated...more

Blake, Cassels & Graydon LLP

U.S. Releases Draft Guidelines That Could Significantly Impact Vertical Merger Review

On January 10, 2020, the U.S. Federal Trade Commission (FTC) and Department of Justice’s Antitrust Division (DOJ) released Draft Vertical Merger Guidelines (Draft Guidelines) for public comment by February 11, 2020. The Draft...more

McDermott Will & Schulte

Antitrust M&A Snapshot - May 2019

UNITED STATES: JANUARY - MARCH 2019 UPDATE - In the first quarter of 2019, vertical merger enforcement continued to be a hot topic for the US antitrust agencies. The Court of Appeals upheld the district court’s decision in...more

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