Paul Weiss Discusses the Effect Of DOJ’s New Merger Remedy Guidance on Private Equity Purchasers

On September 3, the Antitrust Division of the U.S. Department of Justice (DOJ) announced that it is publishing a Merger Remedies Manual. Significantly, the new manual recognizes that “in some cases a private equity purchaser may be [a] preferred” purchaser of divestiture assets. At the very least, according to the manual, the “Division will use the same criteria to evaluate both strategic purchasers and purchasers that are funded by private equity or other investment firms.”

To be sure, the Division will still evaluate proposed acquisitions of divestiture assets by private equity firms to ensure that the acquisition preserves competition. … Read more

Paul Weiss Discusses an FTC Study on Merger Remedies

On February 3, 2017, the Federal Trade Commission (“FTC”) released a report on an internal staff study examining the success of the Commission’s merger remedies from 2006 to 2012.[1] The report, which also focuses on the remedy process more generally, is a follow up to the Commission’s first remedy study, released in 1999.

The FTC has received some criticism in the recent past about the perceived lack of success of a few of its merger consent decree remedies.  But the report found that the remedy process was generally effective and that most remedies proposed by the FTC succeeded in … Read more