The US State of New York Senate adopts the Twenty-First Century Antitrust Act to amend its state antitrust law

The New York state Senate has passed the “Twenty-First Century Antitrust Act” (S. 933) to amend its state antitrust law, radically changing the risks of doing business in New York. It ostensibly aims at so-called “Big Tech,” but applies to all businesses, even those having very little contact with New York. If enacted by the Assembly and signed into law by the Governor, the bill would have three primary implications: The bill requires merger filings in New York 60 days before closing for a huge number of relatively small deals with little connection to New York—covering many more deals than are currently filed with the federal agencies under HSR. This may require major changes in how businesses track and report deals. The bill adopts European-style “abuse of dominance” limits for conduct

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Authors

  • Cleary Gottlieb Steen & Hamilton (Washington)
  • Cleary Gottlieb Steen & Hamilton (Washington)
  • Cleary Gottlieb Steen & Hamilton (Washington)
  • Cleary Gottlieb Steen & Hamilton (Washington)
  • Cleary Gottlieb Steen & Hamilton (Washington)

Quotation

Leah Brannon, Brian Byrne, Jeremy J. Calsyn, George S. Cary, Alexis Collins, The US State of New York Senate adopts the Twenty-First Century Antitrust Act to amend its state antitrust law, 7 June 2021, e-Competitions June 2021, Art. N° 101103

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