As part of our response to the European Commission’s consultation on possible reforms to its merger control guidelines,[1] we provided our views on Topic Paper D – on Sustainability and Clean Technologies.
Antitrust Review Episode 48: In Conversation With John Fingleton, Andrea Coscelli, and Marcus Bokkerink
In the latest instalment of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy is joined by John Fingleton, Andrea Coscelli
EU Merger Guidelines Consultation – Our Views on Innovation and Other Dynamic Elements in Merger Control
As part of our response to the European Commission’s consultation on possible reforms to its merger control guidelines,[1] we provided our views on Topic C – Innovation And Other Dynamic Elements In Merger Control.
Antitrust Review Episode 47: In Conversation With Teresa Ribera
In the latest instalment of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy is joined by Teresa Ribera, the European Commission’s Executive Vice-President for a Clean, Just, and Competitive Transition. Their conversation, held in front of a live audience in New York at the Fordham Corporate Law Institute’s 52nd Annual Conference on International Antitrust Law and Policy, covers an array of topics, including the objectives of antitrust, sustainability, EU merger control, the Draghi Report, digital regulation, international cooperation, and much more.
Laudamotion v. Commission—Case T-1026/23
On October 1, 2025, the General Court dismissed Laudamotion’s application for annulment of the European Commission’s (“Commission”) decision rejecting a complaint that Lufthansa’s concurrent acquisition of flight slots previously held by Air Berlin and conclusion of a wet lease agreement for 40 Air Berlin aircrafts constituted an anticompetitive concertation in breach of Article 101 TFEU.[1] The General Court reconfirmed that to sustain an infringement finding, there can be no alternative plausible explanation for the alleged anticompetitive concertation.
Our Views on the EU Foreign Subsidies Regulation Guidelines
In July 2025, the Commission published its draft Foreign Subsidies Regulation (FSR) guidelines for consultation. The guidelines discuss the FSR’s distortion and balancing tests and the EC’s powers to call in “below threshold” mergers and public tenders for ex ante review.
EU Merger Guidelines Consultation – Our Views on Assessing Market Power
As part of our response to the European Commission’s consultation on possible reforms to its merger guidelines,[1] we provided our views on Topic Paper B – Assessing Market Power.
EU Merger Guidelines Consultation – Our Views on Competitiveness & Resilience
As part of our response to the European Commission’s consultation on possible reforms to its merger control guidelines,[1] we
EU Merger Guideline Consultation – Our Views on Possible Reforms
In May 2025, the Commission launched a wide-ranging public consultation on possible reforms to its merger guidelines.[1] The consultation covers seven core topics that underpin how the Commission assesses the competitive impact of mergers.
Shareholder Engagement Considerations in light of Texas v. Blackrock
On Friday, the Court in Texas v. Blackrock issued an opinion largely denying defendants’ motion to dismiss, which allows a coalition of States to proceed with claims that BlackRock, State Street, and Vanguard conspired to violate the antitrust laws by pressuring publicly traded coal companies to reduce output in connection with the investment firms’ ESG commitments. The Court found that the States plausibly alleged that defendants coordinated with one another, relying on allegations that they joined climate initiatives, made parallel public commitments, engaged with management of the public coal companies, and aligned proxy voting on disclosure issues. It is worth noting that, while the court viewed BlackRock’s, State Street’s, and Vanguard’s participation in Climate Action 100+ and NZAM as increasing the plausibility of the claim in favor of denying the motion to dismiss, the Court clarified that it was not opining that the parties conspired at Climate Action 100+ or NZAM.