In any transaction involving the combination of two or more competitors, M&A lawyers should consider whether antitrust issues may impact the deal, and how they can be addressed in the merger agreement. Most of the transactions closely scrutinized by the U.S. antitrust authorities are horizontal mergers—deals involving firms that sell competitive products. In the majority of those cases, the merging parties negotiate a remedy rather than litigate the matter in court. The framework for dealing with possible objections to the transaction are often addressed in the merger agreement between the parties. In many transactions, especially those involving competitors, the merger agreement will include efforts clauses that outline each party's obligations in managing the antitrust clearance
The US DoJ requires divestiture of the entire US business before approving a merger in the market for point-of-sale terminals in retail stores (VeriFone / Hypercom)
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