Mergers & Acquisitions

In this episode of Cleary Gottlieb’s Antitrust Review podcast, host Nick Levy is joined by a panel featuring Jackie Holland, Cleary partner and former Senior Director of the UK Office of Fair Trading; Ricardo Zimbrón, former Director of Mergers at the Competition & Markets Authority and currently a partner at Cleary; Alexander Baker, CEO, Fingleton; and John Gray, Partner, FGS Global, to discuss the implications of the new Labour Government for competition enforcement and practice in the UK. Their conversation covers an array of topics, including the new government’s growth agenda, the role of politics in antitrust enforcement, merger control, consumer protection, digital regulation, and much more.

On September 3, 2024, in a landmark decision, the European Court of Justice – the EU’s highest court – ruled in favor of Illumina in its challenge to the EC’s unprecedented assertion of jurisdiction over a transaction that met no notification thresholds at either EU or Member State level.

On 27 May 2024, the German Federal Cartel Office (“FCO”) gave the green light for Johnson & Johnson’s (“J&J”) 13.1 billion US dollar acquisition of Shockwave Medical (“Shockwave”).[1]  The decision follows an in-depth investigation into the acquisition’s potential impact on competition and innovation, particularly in the burgeoning field of cardiovascular disease treatment, one of the fastest‑growing global med-tech markets.

UK Becomes Fourth Jurisdiction to Introduce Dedicated Digital Platform Regulation, with More Jurisdictions Likely to Follow

On 23 May, the UK Parliament passed the Digital Markets, Competition and Consumers (DMCC) Bill.  The new DMCC Act will bring about some of the most significant reforms to competition and consumer protection law in the UK in decades. Among other major reforms, it introduces a dedicated regime that provides for specific conduct rules for large digital platforms. The UK therefore becomes the fourth jurisdiction—after the EU with its Digital Market Act (DMA), Germany with its s.19A rules, and Japan with its new smartphone bill (also passed on 23 May)—to introduce rules that target a handful of the largest digital firms.[1]