Yesterday, the FTC announced certain changes in response to the continuing “massive surge” in HSR filings. See Reforming the Pre-Filing Process for Companies Considering Consolidation and a Change in the Treatment of Debt | Federal Trade Commission (ftc.gov).
FTC, Under Pressure from “Tidal Wave” of HSR Filings, To Begin Issuing Close-At-Your-Own-Risk Letters
Posted in Criminal / DOJ, FTCMany have been wondering when FTC and DOJ will resume granting early termination of the HSR waiting period in deals that present no anticompetitive concerns. Early termination does not appear to be coming back anytime soon.
Two Important Antitrust Cases Decided by US Supreme Court
Posted in Antitrust Counseling and Compliance, FTC* Reprinted with permission from Global Competition Review. The full version of GCR’s US Courts Annual Review – Edition 2, published in July 2021, is available here.
The United States Supreme Court decided two antitrust cases for October Term 2020.
HSR Filing Fees For Large Acquisitions May Be Increased
Posted in Antitrust Counseling and ComplianceOn May 13th, the Senate Judiciary Committee approved and sent on to the full Senate the “Merger Filing Fee Modernization Act of 2021.” The Bill, sponsored by Senators Amy Klobuchar and Chuck Grassley, and approved with bipartisan support, would raise the filing fees under the Hart-Scott-Rodino Act for large mergers and would require the fees to be adjusted annually based on changes in the Consumer Price Index. (Currently, the HSR Act’s size-of-person and size-of-transaction tests are adjusted annually, but not the filing fees.) Continue Reading
The European Commission Adopts a Proposal for a Regulation on Foreign Subsidies Distorting the Internal Market
Posted in EU Competition and RegulatoryIn August 2020, we wrote a blog post about the adoption by the European Commission (“Commission”) of a White Paper on Foreign Subsidies. On 5 May 2021, the Commission adopted a proposal for a Regulation on foreign subsidies distorting the internal market after an extensive consultation process with stakeholders. This post updates our previous entry and considers the implications of the newly proposed regulation. Continue Reading
Taboola the Latest Target of DOJ’s Aggressive Antitrust Scrutiny of Hiring Practices
Posted in Antitrust Counseling and ComplianceThe Department of Justice, Antitrust Division (“DOJ”) continues to investigate hiring practices in a number of industries for potential antitrust violations as part of its effort to scrutinize, and in some instances, criminally prosecute, companies and individuals who enter into agreements with their competitors regarding hiring, wages, and solicitation of employees. Continue Reading
The State of Competition in the U.S. Healthcare Industry
Posted in Healthcare / AntitrustThe U.S. healthcare system has been undergoing significant changes since the passage of the Affordable Care Act in 2010, which helped precipitate a wave of hospital and healthcare system consolidation, as providers sought out ways to achieve scale to reduce costs and improve quality. Continue Reading
Vertical Deals in Healthcare: Key Antitrust Takeaways for Private Equity Firms
Posted in Healthcare / AntitrustAs it continues to grapple with the COVID-19 pandemic, the healthcare sector will face increased antitrust scrutiny from the Biden administration, with the Federal Trade Commission (the “FTC”) and Department of Justice, Antitrust Division (the “DOJ”) (together the “Agencies”) as the Agencies ramp up their reviews not just of “horizontal” transactions (i.e., deals between competitors), but also of “vertical” transactions (i.e., deals that combine market participants at different levels of the healthcare industry, such as payors, hospitals, and physician practices). Continue Reading
“Bridge Over Troubled Water” – Crossing the Enforcement Gulf for Digital Platforms
Posted in EU Competition and RegulatoryThis 1970 hit by Simon & Garfunkel is a beautiful song about giving a helping hand to someone caught in a situation of distress. And there is also broad consensus around the world that the digital platform markets are caught in troubled waters. A few mighty rivers run so high and so fast that they are drowning smaller creeks around them and carrying away anyone riding them. Different attempts to contain these massive flows have been made, but they were not strong enough. This has led to a widely visible enforcement gap, because the tools needed to build solid bridges for smaller rivals and consumers were either missing or not properly applied so far. Continue Reading
Congress Misses Opportunity to Bolster Flagging Cartel Enforcement through Whistleblowers
Congress recently took two steps towards incentivizing private participation in federal cartel enforcement: the permanent adoption of ACPERA, and enactment of the Criminal Antitrust Anti-Retaliation Act. While now companies may have permanent incentives to self-report cartel activity, and whistleblowing employees may be better protected from employer retaliation, no surge in individual cartel reporting should be expected absent direct whistleblower financial incentives, such as found in other federal enforcement regimes. Continue Reading
