Paul Weiss Discusses DOJ Antitrust Division Head’s Approach to Merger Remedies

In a January 24 speech, Jonathan Kanter, the assistant attorney general in charge of the Antitrust Division of the DOJ, set forth his views on how the DOJ should approach merger remedies and signaled that the DOJ may be more willing to litigate merger challenges. While many of his statements are in line with existing DOJ guidance on acceptable merger remedies, his speech suggests that he may be less willing to accept a divestiture as a remedy for a problematic merger, especially when a deal involves dynamic markets. Where necessary, companies should be prepared to fashion appropriate and viable divestitures … Read more

Paul Weiss Discusses FTC Withdrawal of Vertical Merger Guidelines

At its public meeting on September 15, the Federal Trade Commission (FTC) rescinded its Vertical Merger Guidelines. These guidelines were issued jointly by the Department of Justice (DOJ) and FTC in June 2020, and served to “outline the principal analytical techniques, practices, and enforcement policies of the” DOJ and FTC “with respect to a range of transactions often described as vertical mergers and acquisitions.” The FTC also rescinded its related Commentary on Vertical Merger Enforcement issued in December 2020. The FTC did not issue replacement guidelines. Instead, the majority statement said that sometime in the future the FTC “will … Read more