Following their January publication of Draft Vertical Merger Guidelines (draft guidelines) for public comment, the Federal Trade Commission (FTC) and the Department of Justice (DOJ) (collectively, the agencies) issued final Vertical Merger Guidelines (Guidelines) on June 30, 2020.  This marks the first official guidance update on vertical mergers from either of the agencies since the Non-Horizontal Merger Guidelines were published by the DOJ in 1984 (1984 guidelines),  and the first time that the agencies have jointly issued vertical merger guidance, albeit over the continued objection of two FTC commissioners. The new guidance aims to provide merging parties and their counsel with increased “transparency of the analytical process underlying the agencies’ enforcement decisions”
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