McDermott Will & Emery
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By McDermott Will & Emery and Louise Aberg on Feb 28, 2019
Posted In Cartel Enforcement, DOJ Developments, EC Developments, EU Developments, Joint Ventures/Competitor Collaboration
Q4 UPDATE: OVERVIEW OF CARTEL INVESTIGATIONS Although 2018 saw guilty pleas and new indictments in several ongoing Department of Justice (DOJ) investigations, the year finished by continuing a downward trend in antitrust enforcement. DOJ’s criminal and civil fines in 2018 ended around $400 million—well short of the billion-dollar plus highs in 2014 and 2015, during...
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New FTC Interpretation Will Require HSR Act Filing for Many Hospital Affiliation Transactions
By McDermott Will & Emery, Jon B. Dubrow and Jonathan Ende on Nov 20, 2018
Posted In FTC Developments, Healthcare Antitrust, Mergers & Acquisitions
The Premerger Notification Office (PNO) of the Federal Trade Commission (FTC) recently formalized a new position on Hart-Scott-Rodino Act (HSR Act) reporting obligations for certain not-for-profit, non-stock transactions. The change is currently in effect and applies to transactions that have not yet closed. The change in position will require reporting of many hospital transactions that...
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Cartel Snapshot: The Latest on Active Antitrust Investigations
By McDermott Will & Emery and Louise Aberg on Nov 9, 2018
Posted In Cartel Enforcement, DOJ Developments, EC Developments, EU Developments
Overview of Current Cartel Investigations Although the third quarter of 2018 saw guilty pleas and new indictments in several current Department of Justice (DOJ) investigations, 2018 continues a downward trend in antitrust enforcement. At its current pace, DOJ’s annual 2018 fines will end around $300 million—well short of the billion-dollar plus highs in 2014 and...
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Antitrust M&A Snapshot
By McDermott Will & Emery, Jon B. Dubrow and Joel R. Grosberg on Nov 7, 2018
Posted In DOJ Developments, EC Developments, EU Developments, FTC Developments, Mergers & Acquisitions, Monopolization/Abuse of Dominance
United States: July – September 2018 Update Both US antitrust agencies marked the third quarter of 2018 with significant policy announcements regarding the merger review process. The announced reforms seek to expedite the review process through cooperation between the agencies and the merging parties. Moving first, the Federal Trade Commission (FTC) revealed a Model Timing...
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DOJ Announces Procedural Reforms Seeking to Resolve Merger Investigations within 6 Months of Filing
By McDermott Will & Emery, Jon B. Dubrow and Joel R. Grosberg on Sep 25, 2018
Posted In DOJ Developments, FTC Developments, Mergers & Acquisitions
Today, Assistant Attorney General Makan Delrahim announced a series of reforms with the express goal to resolve most merger investigations within six months of filing. The reforms seek to place the burden of faster reviews not only on the Antitrust Division of the Department of Justice (DOJ), but also on the merging parties. The DOJ will...
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Antitrust M&A Snapshot
By McDermott Will & Emery, Jon B. Dubrow and Joel R. Grosberg on Aug 6, 2018
Posted In DOJ Developments, EC Developments, EU Developments, FTC Developments, Mergers & Acquisitions, Monopolization/Abuse of Dominance
United States: April – June 2018 Update The second quarter of 2018 ushered in a trial defeat for the US Department of Justice (DOJ) and the beginning of a new era at the Federal Trade Commission (FTC). In June, Judge Richard J. Leon of the US District Court for the District of Columbia denied the...
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Cartel Snapshot
By McDermott Will & Emery and Louise Aberg on Jun 27, 2018
Posted In Cartel Enforcement, DOJ Developments, EC Developments, EU Developments
The second quarter of 2018 proved to be an active one with a number of US Department of Justice (DOJ) investigations resulting in criminal charges against individual executives. However, the DOJ’s total criminal fines still fall below the highs reached in 2014 and 2015. In this period, the European Commission made one notable cartel decision,...
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Three Lessons from AT&T/Time Warner and Three Strategies for Future Vertical Transactions
By McDermott Will & Emery, Jon B. Dubrow and Joel R. Grosberg on Jun 19, 2018
Posted In DOJ Developments, Mergers & Acquisitions
The challenges that the government faces in litigating vertical mergers was illustrated in the DOJ’s recent loss in its challenge of AT&T’s proposed acquisition of Time Warner. The result provides guidance for how companies can improve their odds of obtaining antitrust approval for similar transactions. Access the full article.
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European Court of Justice Provides Guidance on Scope of the Standstill Obligation Enshrined in the EU Merger Regulation
By McDermott Will & Emery on Jun 7, 2018
Posted In EU Developments, Mergers & Acquisitions
Pursuant to the EU merger control rules, a transaction that falls within the purview of the EU Merger Regulation (EUMR) must be notified to the European Commission (Commission) in advance (Article 4(1) EUMR), and must not be implemented until cleared by the Commission, known as the “standstill” obligation (Article 7[1] EUMR). A principal rationale behind...
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Antitrust M&A Snapshot
By McDermott Will & Emery, Jon B. Dubrow and Joel R. Grosberg on May 7, 2018
Posted In DOJ Developments, EC Developments, EU Developments, FTC Developments, Mergers & Acquisitions
United States: January – March 2018 Update One year into the Trump administration, the US antitrust agencies are finally starting to implement their enforcement policies. Most notably, trial began in the US Department of Justice’s (DOJ) challenge of the AT&T/Time Warner merger, which is the Antitrust Division’s first significant vertical challenge in several decades. Judge...
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