The US DoJ and FTC issue a revised version of the vertical merger guidelines

5 Key Takeaways 1. The guidelines explain and clarify current agency practices and do not signify a policy shift at the agencies. 2. The guidelines recognize that vertical mergers often generate consumer benefits, creating a promising path for companies to secure antitrust clearance. 3. Diagonal mergers and mergers of complements are introduced as new types of mergers to be scrutinized in the United States. 4. The agencies decided not to include a market-share safe harbor, but addressed Dechert’s comments about the role of market concentration and the availability of substitutes. 5. The agencies did not address remedies, as there may continue to be differences between them in this area. The final Vertical Merger Guidelines issued on June 30, 2020 provide guidance to the business

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James A. Fishkin, Rani A. Habash, Dennis S. Schmelzer, The US DoJ and FTC issue a revised version of the vertical merger guidelines, 30 June 2020, e-Competitions June 2020, Art. N° 95712

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