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Overview
The new Merger Guidelines, jointly issued by the US Department of Justice (DOJ) and Federal Trade Commission (FTC) in December 2023, reflect many of the aggressive and novel theories of harm that senior officials at the DOJ and FTC have enunciated in speeches and pursued during the Biden Administration through enforcement actions.
The new guidelines replace Horizontal Merger Guidelines issued by the Obama Administration in 2010 and Vertical Merger Guidelines issued by the Trump Administration in 2020. It remains to be seen whether the new guidelines will be followed by courts or will have a lasting impact.
The panel, who regularly help clients navigate mergers and acquisitions through the regulatory approval process, will discuss the new Merger Guidelines and what they means for dealmakers, including:
- A summary of the new Merger Guidelines and critical changes adopted by the Guidelines (30 minutes)
- How the theories enunciated in the new Guidelines have played out in recent enforcement actions (20 minutes)
- What dealmakers should take away from the new Guidelines (10 minutes)
Who Should Attend: In-house counsel, outside attorneys, and other allied professionals who help clients negotiate mergers and acquisitions and who practice in the area of antitrust regulation and enforcement.
Program Level: Update
Prerequisites: None
Advanced Preparation: None
Faculty:
Megan Browdie
Cooley LLP
M. Howard Morse
Cooley LLP