In our latest instalment, host Nick Levy speaks with George Cary, one of the leading U.S. antitrust lawyers of his
Antitrust Review Episode 25: In Conversation With Bill Kovacic
In the latest installment of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy welcomes Bill Kovacic, a legend in the
2024 Antitrust Update: Agencies Sharpen Their Teeth, But Is It All Bark and No Bite?
The following post was originally included as part of our recently published memorandum “Selected Issues for Boards of Directors in 2024”.
Antitrust in 2023 was marked by a series of policy developments—some still nascent, some ripe for enforcement for the first time. In the U.S., the FTC and DOJ finalized their drastically transformed merger guidelines. In the EU, landmark new digital regulations became applicable for the first time. And the UK government introduced a bill promising major new digital and consumer protection rules.
Antitrust Review Episode 19: In Conversation With Bruce Hoffman & Dave Gelfand
In the latest instalment of the Cleary Gottlieb Antitrust Review podcast, host Nick Levy is joined by Bruce Hoffman, Director
FTC & DOJ Propose Radical Changes to Merger Guidelines
The new draft guidelines depart from decades of practice by introducing novel presumptions that could make it harder for mergers to obtain regulatory clearance from the agencies.
On July 19, 2023, the FTC and DOJ published draft merger guidelines.[1] Historically, the purpose of these guidelines has been to provide the public, including companies whose transactions are potentially subject to agency review, with information about how the agencies analyze mergers to identify potential competitive harm. The guidelines have no force of law and are not binding on the courts, though courts have relied on them as persuasive authority to varying degrees. Past iterations of the guidelines have therefore provided a neutral explanation of the agencies’ approach, including descriptions of the economic tools that they and the courts can use to assess a merger’s likely competitive effects.
Sweeping Changes to Premerger (HSR) Process in the United States Proposed by Enforcement Agencies
Changes Would Multiply Time, Burden, and Expense for All Filings, Even for Transactions With No Competition Concerns
The U.S. FTC and DOJ have proposed sweeping changes to the pre-merger process in the United States under the Hart-Scott-Rodino (HSR) Act.[1]
The changes would not affect whether a transaction is subject to the reporting requirements. But for those transactions where an HSR filing is required, the changes would, in a word, be massive.
Getting the Deal Through: Dominance 2023
Cleary Gottlieb lawyers have authored and edited Lexology’s Getting the Deal Through Dominance guide 2023, which addresses the most relevant questions on dominance and market power.
Antitrust Review Episode 9: In Conversation With Professor Anu Bradford
In the latest episode of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy interviews author, scholar and expert in international
2023 Update: U.S. Antitrust Sets Sail into Uncharted Seas
Last year we noted that U.S. antitrust enforcement was in a period of nearly unprecedented public attention and policy debate, and also that the Biden Administration seemed likely to launch significant new policy initiatives as the year progressed.
FTC Proposes Rule to Ban Non-Competes
On January 5, 2023, the U.S. Federal Trade Commission (“FTC”)proposed a rule that would prohibit employers from entering into non-compete agreements (“non-competes”) with workers and require them to rescind all existing non-competes by written notice.