Podcast - Noteworthy Value-Based Care Mergers and Acquisitions Transactions
JANUARY – MARCH 2025: KEY THEMES AND TAKEAWAYS - UNITED STATES - FTC Loses Vertical Challenge to Tempur Sealy/Mattress Firm On July 2, 2024, the US Federal Trade Commission (FTC) filed suit in federal court seeking to block...more
To date, 2024 has not yet seen the type of mega-merger (Pfizer/Seagen) or level of agency enforcement (Sanofi/Maze or Amgen/Horizon) as 2023. But two notable investigations — one still active — show the Federal Trade...more
M&A activity in 2023 was subdued, as dealmakers grappled with geopolitical tensions, inflation, rising interest rates, and increasing regulatory scrutiny, against a backdrop of general economic uncertainty. Challenges in the...more
It has been two years since President Biden signed a far-reaching, industry-spanning Executive Order on Promoting Competition in the American Economy. The Executive Order outlined a “whole-of-government” approach to...more
Antitrust enforcers remained active across the globe, with the announcement by the FTC and DOJ of proposed guidelines that have an emphasis on tech mergers in the United States, and several investigations of major tech deals...more
Consistent with the Biden Administration’s whole-of-government approach to address perceived consolidation in a variety of industries, including in the healthcare industry, the Federal Trade Commission (FTC) and U.S....more
On July 19, 2023, the Federal Trade Commission and Department of Justice jointly published long-anticipated proposed merger guidelines (the “Proposed Merger Guidelines”), which had been expected since President Biden issued...more
Summary - ..The FTC and DOJ suffered twin setbacks in the healthcare space. In both UnitedHealth/Change and Illumina/Grail, the agencies’ reliance on more novel theories of harm failed to convince skeptical judges. ...more
In July 2022, the FTC brought an enforcement action to enjoin Meta’s acquisition of virtual reality app maker Within. The FTC’s approach in that complaint could have implications for Microsoft’s proposed acquisition of...more
This newsletter is a summary of the antitrust developments we think are most interesting to your business. Stefanie Benson, counsel based in Sydney, is our editor this month (learn more about Stefanie in our Q&A feature at...more
2021 M&A smashed U.S. and global records. The year saw the arrival of a new U.S. administration, the release of COVID-19 vaccines, as well as continued questions regarding the impact of the pandemic, including the year-end...more
Takeaways - Although deal flow continues to be strong, stricter antitrust and national security reviews may pose obstacles for some mergers. Financial sponsors remain very active, and with more corporate divestitures...more
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
On July 9, 2021, President Biden issued an Executive Order on Promoting Competition in the American Economy (the “EO”). The EO casts a wide net, encompassing many industries, including health care....more
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
Last week, the Department of Justice and Federal Trade Commission released for public comment proposed updated guidelines for vertical merger enforcement....more
The US M&A market delivered another year of strong performance in 2018. Though deal volume dipped 2 percent year-on-year to 5,682 deals, deal value was up by 15 percent over the period, to US$1.5 trillion - A number of...more
Talk about a shellacking. In his recent opinion in the latest incarnation of U.S. v. AT&T, U.S. District Court Judge Richard Leon rejected, in no uncertain terms, the U.S. Justice Department’s efforts to block AT&T’s...more
1. Trump’s appointments set the antitrust agenda for 2018 - Almost a year into the Trump Administration, leadership at the Department of Justice Antitrust Division is now set. The Senate confirmed Makan Delrahim as...more