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Last month, the United States Department of Justice (DOJ) and Federal Trade Commission (FTC) issued the 2023Merger Guidelines, a draft of which was published in July. The following summarizes the key takeaways from that panel.
On September 17, 2024, the Antitrust Division of the United States Department of Justice (the “DOJ”) announced that it withdrew its 1995 Bank Merger Guidelines and instead, for purposes of evaluating the competitive impact of bank mergers, will rely on its 2023Merger Guidelines, which apply to all industries.
After "an extensive public consultation process" since late July 2023, the Federal Trade Commission (FTC) and U.S. 18, 2023, jointly announced the release of final Merger Guidelines that would significantly expand the number and types of transactions subject to antitrust challenge. By: Holland & Knight LLP
In this article from The Threshold, the authors recap a panel on theories of labor harm in mergers, sponsored by the Mergers and Acquisitions Committee of the American Bar Association Section of Antitrust Law. By: Cornerstone Research
The Federal Trade Commission (FTC) and the Department of Justice (DOJ) have released the 2023 Hart-Scott-Rodino (HSR) Annual Report, offering key insights into merger activity over the past fiscal year. As businesses continue to consolidate, the FTC and DOJ play a critical role in ensuring that mergers do not harm competition.
The United Arab Emirates (UAE) recently announced a turnover-based threshold for merger control filings that supplements the Federal Decree-Law No. 36 of 2023 (UAE 2023 Competition Law). The 2023 law stated that a subsequent cabinet decision would establish new merger thresholds. By: Baker Botts L.L.P.
billion merger of the Kroger and Albertsons grocery chains. The Oregon court adopted the controversial 2023Merger Guidelines market concentration presumption and largely accepted the Federal Trade Commissions (FTC) and its experts arguments for a narrow grocery market.
The past two weeks saw major developments in the US merger clearance process. On February 10, 2025, the Federal Trade Commissions (FTC) revised Hart-Scott-Rodino (HSR) rules and new filing forms went into effect, marking the most significant overhaul of HSR reporting requirements in 45 years. By: Mayer Brown
A long-expected merger of two of the world’s biggest memory chip companies — Western Digital and Japan’s Kioxia — may be hampered by one of Kioxa’s shareholders, SK Hynix. All rights reserved. For personal use only.
IN THIS FEBRUARY 2024 ISSUE - UNITED STATES - New Merger Guidelines Released - The US Federal Trade Commission (FTC) and US Department of Justice Antitrust Division (DOJ) issued their updated Merger Guidelines on December 18, 2023.
The Private Target Mergers & Acquisitions Deal Points Study (“the Study”) is published on a bi-annual basis by the Market Trends Subcommittee of the ABA Business Law Section’s M&A Committee, which I am happy to serve on.
On September 17, the DOJ announced its withdrawal from the 1995 Bank Merger Guidelines, stating the 2023Merger Guidelines will be the only authoritative statement across all industries. By: Orrick, Herrington & Sutcliffe LLP
On September 17, 2024, the Department of Justice Antitrust Division (DOJ) shut the vault doors on its 1995 Bank Merger Guidelines, leaving the 2023Merger Guidelines as its sole authoritative statement on the topic of mergers across all industries. By: BakerHostetler
On September 17, 2024, the Federal Deposit Insurance Corporation (“FDIC”) and the Office of the Comptroller of the Currency (“OCC”) issued final “statements of policy” for transactions subject to the Bank Merger Act (“BMA”). By: Paul Hastings LLP
No 2022-0666-KSJM, 2023 WL 7154477 (Del. 31, 2023), in which a Twitter stockholder alleged that Elon Musk and related entities breached fiduciaries duties as a controller and. One of the proposed amendment stems from Crispo v. By: Sheppard Mullin Richter & Hampton LLP
The United Arab Emirates enacted a new competition law in December 2023, which revamped the country's merger control regime and adopted a turnover-based threshold in addition to a market-share threshold. The UAE government has now issued a ministerial decree providing the details of these thresholds. By: White & Case LLP
On December 18, 2023, The Federal Trade Commission and Antitrust Division of the Department of Justice concluded a nearly two-year process of updating both the horizontal and vertical merger guidelines with the release of the 2023Merger Guidelines.
agencies concluded 11 significant merger investigations in the first half of 2024—just one shy of the total concluded in all of 2023. Activity has picked up considerably since last year but is still below the historic DAMITT average. By: Dechert LLP
Applying its recent re-interpretation of Article 22 of the European Union Merger Regulation (“EUMR”), which enables Member States to refer to the European Commission (the “Commission”) transactions that do not reach either EU or national merger control thresholds, the Commission reviewed and prohibited in 2023 the acquisition by genomic sequencing (..)
Looking back on the year 2023, this alert aims to give an update on the state of play in Chinese merger control. In particular, it looks at how merger control has evolved since China’s main antitrust statute – the Anti-Monopoly Law – was amended for the first time in summer 2022. By: Hogan Lovells
Antitrust actions significantly impacted the technology sector in 2023 and are poised to have substantial repercussions in the future, affecting both major tech companies and emerging enterprises.
2023’s much-discussed downturn in mergers & acquisitions – with global M&A volume and value down 6% and 17%, respectively, from 2022 – was largely driven by the slowdown in the tech sector, with global tech M&A volumes down 51% year over year, while other sectors saw marked increases.
The US energy sector’s ongoing consolidation wave, which saw $250 billion worth of deals in 2023 and continues into the current year, is reshaping the industry landscape. As companies seek to deploy cash reserves and enhance their oil and gas portfolios, mergers and acquisitions (M&A) have become increasingly common.
Based on deals we’ve closed, and others into which we have visibility through Pitchbook and other resources, the themes for Q2 2023 in the Southeast appear to be “survive and advance” and “back to basics.”. By: Hutchison PLLC
Department of Justice (DOJ) encourage companies to self-disclose misconduct discovered during the merger and acquisition process? This month, we ask: Will a new policy from the U.S. By: Morrison & Foerster LLP
2023 was a very significant year for every compliance practitioner and compliance program. While there was a paucity of corporate enforcement actions under the Foreign Corrupt Practices Act (FCPA), there were significant announcements from the Department of Justice (DOJ) which directly impact compliance professionals and compliance programs.
billion merger. Our statement on the mutual request with the CMA for a pause of our appeal in the UK: pic.twitter.com/8Aky2IJjxS — Brad Smith (@BradSmi) July 11, 2023 On Activision Blizzard’s end, these legal developments are a welcome breath of fresh air. Microsoft to buy Activision Blizzard for $68.7
In CQ4-2023, the Restaurant Index grew 3.40%, trailing the S&P 500's 11.31% rise. Annually, 2023 showed gains aligning with the S&P. Despite challenges, brands emphasized global expansion and digital innovation. The industry has continued to adapt, setting a measured outlook into 2024. By: Ankura
Today’s alert—the second in our Sanctions 2023 Year in Review Series—provides an overview of U.S. sanctions enforcement in 2023, including the key lessons learned from the public enforcement actions issued by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). By: Morrison & Foerster LLP
Earlier this week, the Department of Justice (“DOJ”) and Federal Trade Commission (“FTC”) released the long-awaited 2023Merger Guidelines. The final guidelines are the result of nearly two years of behind-the-scenes drafting, numerous public listening sessions and workshops, and the receipt of some 35,000 public comments.
Europe generated almost 40% of its electricity from renewable sources in 2022, and in the first half of 2023, renewable energy accounted for approximately 25% of electricity generation in the United States. By: Vinson & Elkins LLP
On July 23, 2024, the Committee on Foreign Investment in the United States (CFIUS) published the public version of its Annual Report to Congress for Calendar Year 2023 (the Report), which highlights key indicators of the CFIUS process and statistics on transactions filed in calendar year 2023. By: Latham & Watkins LLP
On October 5, 2023, Deputy Attorney General, Lisa Monaco, announced a new safe harbor policy for voluntary self-disclosures made in the mergers and acquisitions context.
Even with an overall decrease in global merger and. The report offers valuable insight into the CFIUS review process and highlights the various foreign investment transaction elements that are coming under scrutiny. By: Torres Trade Law, PLLC
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 U.S. banking sector in the early part of the year also took their toll. By: Morrison & Foerster LLP
Our M&A team is honored to have represented clients in some of the most compelling transactions in 2023—from advising SoftBank on two acquisitions of public companies in the robotics space, to partnering with sustainable food chain investing firm Paine Schwartz Partners and Special New Fruit Licensing (SNFL) on SNFL’s combination with International (..)
On July 23, 2024, the Committee on Foreign Investment in the United States (CFIUS) published its Annual Report to Congress for the Calendar Year 2023. The report provides key statistics on the CFIUS process and the transactions that were filed in 2023.
On 18 June 2024, the State Administration for Market Regulation (SAMR), which includes the State Anti-Monopoly Bureau, released the China Antitrust Law Enforcement Annual Report (2023) (the “Report”).
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