US Merger remedies

Mergers

The US FTC finalises its consent order permitting a private equity firm to acquire a number of clinics providing emergency veterinary services subject to divestments (JAB Consumer Partners / Ethos)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order against JAB Consumer Partners to Protect Pet Owners from Private Equity Firm’s Rollup of Veterinary Services Clinics* Following a public comment period, the Federal Trade Commission has finalized a consent order against JAB Consumer Partners designed to prevent the (...)

The US FTC approves the acquisition of a shop selling goods to small farmers and ranchers by a rival subject to divestments (Tractor Supply / Orscheln Farm and Home)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Consent Order Addressing Concerns Over Tractor Supply’s Acquisition of Orscheln Farm and Home* Order requires Tractor Supply to divest Orscheln stores, corporate offices, and distribution center to smaller farm store chains The Federal Trade Commission approved a consent order (...)

The US FTC approves final order requiring an oil extractor to sell off its Utah operations before being acquired by a private equity firm (EnCap / EP Energy)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Requiring EnCap to Sell Off EP Energy Corp’s. Entire Utah Oil Business* Settlement Prevents Private Equity Fund from Eliminating Significant Competitor in Utah Waxy Crude Oil Following a public comment period, the Federal Trade Commission has approved a final order (...)

The US FTC approves a $1.1B acquisition of a chain of vets by a private equity firm subject to divestment of practices in California and Texas (JAB Consumer Partners / SAGE Veterinary Partners)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Protecting Pet Owners from Private Equity Firm’s Anticompetitive Acquisition of Veterinary Services Clinics* FTC Acts to Preserve Competition in Markets for Specialty and Emergency Veterinary Services Following a public comment period, the Federal Trade Commission has (...)

The US FTC approves final order requiring two enamel production companies to sell off three facilities amid concerns that the merger would increase concentration in North American market for porcelain enamel frit (Prince International / Ferro)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Requiring Prince International Corp. and Ferro Corp. to Sell Off Three Facilities amid Concerns that Deal would Increase Concentration in North American Market for Porcelain Enamel Frit* FTC also Acts to Preserve Competition in Markets for Forehearth Colorants and (...)

The US FTC permits the acquisition of 60 petrol stations by an investment company subject to the waiving of non-compete obligations deemed to be facially over-broad in scope (GPM Investments / Corrigan Oil)
McDermott Will & Emery (Washington)
WHAT HAPPENED GPM Investments (GPM) acquired 60 gas stations from Corrigan Oil (Corrigan). As part of the acquisition agreement, Corrigan agreed not to compete for a period of time with the gas stations purchased from Corrigan. In addition, Corrigan agreed not to compete with GPM for another (...)

The US FTC seeks to force two merging gas distributors to sell-off operations in three local markets over competition concerns (Buckeye Partners / Magellan Midstream Partners)
US Federal Trade Commission (FTC) (Washington)
The Federal Trade Commission today took action to protect competition in gasoline, diesel, and other fuel markets in South Carolina and Alabama, requiring pipeline and storage companies Buckeye Partners, L.P. and Magellan Midstream Partners, L.P. to divest to U.S. Venture, Inc. petroleum (...)

The US FTC requires two companies to sell off three facilities amid concerns that the deal would increase concentration in the North American market for porcelain enamel frit (Prince / Ferro)
US Federal Trade Commission (FTC) (Washington)
FTC Requires Prince and Ferro to Sell Off Three Facilities amid Concerns that Deal would Increase Concentration in North American Market for Porcelain Enamel Frit* Absent a Remedy, the Merger Would Also Likely Harm Competition in Markets for Forehearth Colorants and Glass Enamel The Federal (...)

The UK Competition Authority and US DoJ block the merger of two Finnish suppliers of equipment to port operators and reject the remedies offered by the parties (Cargotec / Konecranes)
Morrison & Foerster (Washington)
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Morrison & Foerster (London)
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Morrison & Foerster (Brussels)
Cargotec/Konecranes: Failed shipping equipment merger illustrates aggressive UK/U.S. enforcement and increased skepticism of remedies* On March 29, 2022, global container handling equipment providers [Cargotec and Konecranes] abandoned their proposed $5 billion merger after the United Kingdom (...)

The US FTC requires the divestiture of an energy producer’s entire business and assets in Utah prior to its acquisition by a private equity fund (EnCap / EP Energy)
US Federal Trade Commission (FTC) (Washington)
FTC Requires ENCAP to Sell Off EP Energy Corp.’s Entire Utah Oil Business amid Concerns that Deal would Increase Pain at the Pump* Agency Seeks to Prevent Private Equity Fund from Eliminating Significant Competitor in Utah Waxy Crude Oil The Federal Trade Commission will require the (...)

The US FTC approves a final order imposing divestitures and protecting retail fuel customers following an acquisition of 27 retail gasoline and diesel outlets (Global Partners / Richard Wiehl)
US Federal Trade Commission (FTC) (Washington)
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Global Partners LP’s acquisition of 27 retail gasoline and diesel outlets owned or operated by Richard Wiehl violates federal antitrust laws. Under the terms of the final settlement, (...)

The US FTC approves modifications to a divestiture agreement of a medical device company following a merger with a pharmaceutical supplier (Boston Scientific / BTG)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Modifications to Boston Scientific Corp. Divestiture Agreement* The Federal Trade Commission has approved certain modifications to medical device company Boston Scientific Corp.’s Divestiture Agreements. The FTC approved these agreements and incorporated them into its order as part (...)

The US FTC approves a pharmaceutical supplier’s petition for prior approval of its acquisition of the chromatography equipment business of a service provider in the pharmaceutical and biopharmaceutical industries (Sartorius Stedim Biotech / Novasep Process)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Sartorius Stedim Biotech S.A.’s Petition for Prior Approval of its Acquisition of the Chromatography Equipment Business of Novasep Process SAS* The Federal Trade Commission has approved a petition from Sartorius Stedim Biotech S.A. to acquire the chromatography equipment business (...)

The US FTC approves a final order requiring northeast supermarkets to sell 12 stores as a condition of a merger (Price Chopper / Tops Market)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Requiring Northeast Supermarkets Price Chopper and Tops Market Corp. to Sell 12 Stores as a Condition of Merger* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that the merger of New York-based supermarket (...)

The US FTC approves a final order settling charges that a merger between two pharmaceutical companies harmed competition in the markets for an antibiotic used to treat infections and an oral steroid product used to treat inflammation (ANI Pharmaceuticals / Novitium Pharma)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Requiring Generic Drug Marketers ANI Pharmaceuticals, Inc. and Novitium Pharma LLC to Divest Rights and Assets to Generic Sulfamethoxazole-Trimethoprim Oral Suspension and Generic Dexamethasone Tablets* Following a public comment period, the Federal Trade Commission (...)

The US FTC approves a final order settling charges that a dialysis service provider’s acquisition of clinics would reduce competition in vital outpatient dialysis services in the Utah market (DaVita)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Imposing Strict Limits on Future Mergers by Dialysis Service Provider DaVita, Inc* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that dialysis service provider DaVita, Inc.’s acquisition of the University of (...)

The US FTC issues an order aimed at protecting retail fuel customers following a merger between 2 companies in the energy sector (Global Partners / Richard Wiehl)
US Federal Trade Commission (FTC) (Washington)
FTC Order Protects Retail Fuel Customers Following Global Partners LP’s Acquisition of Wheels* Proposed order preserves competition by requiring divestiture of 7 retail gasoline and diesel stations in Connecticut Global Partners LP and Richard Wiehl have agreed to divest to Petroleum Marketing (...)

The US FTC approves the modification of remedies regarding the acquisition of a natural gas joint venture by a gas transmission pipeline (DTE Energy / Nexus)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Modification of Final Order Related to NEXUS Gas Transmission, LLC, a Natural Gas Joint Venture* Following a public comment period, the Federal Trade Commission has approved a petition by DTE Energy Company to reopen and modify the FTC’s 2019 final order. The order remedied the (...)

The US FTC approves modifications to a pharmaceutical company’s divestiture agreement in the context of its previous acquisition of a competitor (Bristol Meyers Squibb / Celgene)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Modifications to Bristol Meyers Squibb Divestiture Agreement* The Federal Trade Commission has approved certain modifications to Bristol Meyers Squibb’s, or BMS’s, Divestiture Agreements that the FTC approved and incorporated into its order as part of a consent that was required (...)

The US DoJ requires substantial divestitures and the waiving of the non-compete agreement before clearing a merger between two information providers (S&P Global / IHS Markit)
US Department of Justice (Washington DC)
Justice Department Requires Substantial Divestitures and Waiver of a Non-Compete for S&P to Proceed with its Merger with IHS Markit* Divestitures Will Preserve Competition Among Commodity Price Reporting Agencies and Waiver of Non-Compete Will Promote Competition for the Sale of Retail Gas (...)

The US DoJ requires divestitures following the proposed merger between a national dairy company and a food and beverage producer (Lactalis / Kraft Heinz)
US Department of Justice (Washington DC)
Justice Department Requires Divestitures in Lactalis’s Acquisition of Kraft Heinz’s Natural Cheese Business in the United States* Divestitures of Kraft Heinz’s Athenos and Polly-O Businesses Will Preserve Competition in the Sale of Feta and Ricotta Cheese The Department of Justice announced (...)

The US FTC requires two generic drug marketing companies to divest rights and assets on two generic products as a condition for the merger (ANI Pharmaceuticals / Novitium Pharma)
US Federal Trade Commission (FTC) (Washington)
FTC Requires Generic Drug Marketers ANI Pharmaceuticals, Inc. and Novitium Pharma LLC to Divest Rights and Assets to Two Generic Products as Condition of Merger* Order preserves competition in U.S. markets for generic sulfamethoxazole-trimethoprim oral suspension and generic dexamethasone The (...)

The US FTC approves a final order requiring a national convenience store chain to divest itself of several of its gas stations for impeding competition in several States (7-Eleven / Speedway)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Requiring Divestitures of Hundreds of Retail Gas and Diesel Fuel Stations Owned by 7-Eleven, Inc.* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that 7-Eleven’s acquisition of Marathon’s Speedway subsidiary (...)

The US FTC restricts future acquisitions for firms that pursue anticompetitive mergers
McDermott Will & Emery (Washington)
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McDermott Will & Emery (Washington)
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Arnold & Porter Kaye Scholer (Brussels)
On October 25, 2021, the FTC announced a return to the practice of including prior approval provisions in consent decrees for allegedly anticompetitive mergers. This means that in addition to divesting a business, the FTC is requiring companies to obtain FTC prior approval before purchasing any (...)

The US DoJ requires divestitures for a merger between two national manufacturers of iron products (Neenah / US Foundry)
US Department of Justice (Washington DC)
Justice Department Requires Divestitures in Neenah Enterprises Inc.’s Acquisition of US Foundry* Divestitures Will Preserve Competition for Essential Construction Products Sold to Towns and Municipalities The Department of Justice announced today that it will require Neenah Enterprises Inc. (...)

The US DoJ issues a statement following the FTC’s vote to withdraw from the vertical merger guidelines
US Department of Justice (Washington DC)
Justice Department Issues Statement on the Vertical Merger Guidelines* Acting Assistant Attorney General Richard A. Powers of the Justice Department’s Antitrust Division issued the following statement today after the Federal Trade Commission (FTC) voted to withdraw from the 2020 Vertical Merger (...)

The US DoJ requires divestitures for a proposed merger between two banks (BancorpSouth Bank / Cadence Bank)
US Department of Justice (Washington DC)
Justice Department Requires Divestitures in BancorpSouth Bank’s Merger with Cadence Bank* Divestiture of Seven Mississippi Branches will Protect Consumers in Rural Communities and Small Towns The Department of Justice announced today that BancorpSouth Bank and Cadence Bank have agreed to sell (...)

The US DoJ requires substantial divestitures in the merger between two national manufacturing companies to protect consumers and small businesses (Gray / Quincy)
US Department of Justice (Washington DC)
Justice Department Requires Substantial Divestitures in Gray’s Acquisition of Quincy to Protect American Consumers and Small Businesses* Gray and Quincy Must Divest 10 Broadcast Television Stations in Seven Local Markets The Department of Justice announced today that it will require Gray (...)

The US DoJ announces that two automotive-parts suppliers will restructure their merger in light of competition concerns (Tupy / Teksid)
US Department of Justice (Washington DC)
Major International Automotive-Parts Suppliers Restructure Deal to Resolve Antitrust Concerns* Auto parts supplier Tupy agreed to restructure its acquisition of Teksid after the Department of Justice raised concerns that the merger would result in higher prices and reduced quality and (...)

The US FTC orders the divestiture of hundreds of shops following the acquisition of a retail fuel chain by the largest national convenience store chain (7-Eleven / Speedway)
US Federal Trade Commission (FTC) (Washington)
FTC Orders the Divestiture of Hundreds of Retail Stores Following 7-Eleven, Inc.’s Anticompetitive $21 Billion Acquisition of the Speedway Retail Fuel Chain* Proposed order prohibits 7-Eleven from enforcing noncompete provisions for franchisees or employees working at or doing business with (...)

The US DoJ requires substantial divestitures in the merger between a grain company and a Japanese association of agricultural cooperatives to protect American farmers (Zen-Noh / Bunge)
US Department of Justice (Washington DC)
Justice Department Requires Substantial Divestitures in Zen-Noh Acquisition of Grain Elevators from Bunge to Protect American Farmers* Zen-Noh Must Divest Nine Grain Elevators so that Farmers Along the Mississippi River and Its Tributaries Continue to Have the Same Number of Options to Sell (...)

The US DoJ approves a merger between two Midwestern banks subject to the divestment of 13 selected local bank branches (Huntington Bancshares / TCF Financial)
US Department of Justice (Washington DC)
Justice Department Requires Divestitures in Huntington Bancshares Incorporated’s Acquisition of TCF Financial Corporation* Thirteen Branches in Michigan will be Divested — Ensuring Bank Customers Have Access to Competitively Priced Products and Services The Department of Justice announced today (...)

The US DoJ requires a waste management company to divest its assets in five states to proceed with the acquisition of its competitor (Republic / Santek)
US Department of Justice (Washington DC)
Justice Department Requires Republic Services to Divest Assets to Proceed with Santek Acquisition* Divestiture Will Preserve Competition in Markets for Small Container Commercial Waste Collection and Municipal Solid Waste Disposal in Six Local Markets in Five States The Department of Justice (...)

The US DoJ reaches a settlement with two leading central Pennsylvanian healthcare providers regarding their merger (Geisinger Health / Evangelical Community Hospital)
US Department of Justice (Washington DC)
Justice Department Resolves Antitrust Case Against Leading Central Pennsylvania Health Care Providers* Settlement Protects Hospital Competition in this Region The Department of Justice announced today that it has reached a settlement with Geisinger Health (Geisinger) and Evangelical Community (...)

The US Court of Appeals for the Fourth Circuit upholds the first divestiture order in an antitrust suit brought by a private party challenging a merger, years after the transaction, in the door manufacturing sector (Steves & Sons / Jeld-Wen / CMI)
Baker Botts (Washington)
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Baker Botts (Washington)
On February 18, 2021, the U.S. Court of Appeals for the Fourth Circuit upheld the first divestiture order in an antitrust suit brought by a private plaintiff which challenged its rival’s acquisition four years after the transaction. Post-consummation merger challenges are rare and—until now—have (...)

The US Court of Appeals for the Fourth Circuit upholds its earlier decision ordering the divestiture of a corporate acquisition in a private antitrust lawsuit (Steves & Sons / Jeld-Wen / CMI)
Herbert Smith Freehills (New York)
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Latham & Watkins (London)
On March 22, 2021, the US Court of Appeals for the Fourth Circuit upheld its earlier decision ordering the divestiture of a corporate acquisition in a private antitrust lawsuit, where US merger control authorities had previously cleared the transaction. The decision represents the first time a (...)

The US FTC approves merger between two national pharmaceutical companies subject to conditions (Pfizer / Mylan)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Imposing Conditions on Combination of Pfizer Inc.’s Upjohn and Mylan N.V.* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that the combination of the Upjohn division of pharmaceutical company Pfizer and Mylan (...)

The US FTC imposes conditions on wine and spirit maker’s acquisition of assets from a competitor (E. & J. Gallo Winery / Constellation Brands)
US Federal Trade Commission (FTC) (Washington)
FTC Imposes Conditions on E. & J. Gallo Winery’s Acquisition of Assets from Constellation Brands, Inc.* Wine and spirits maker E. & J. Gallo Winery has agreed to divest several product lines and remove certain others from its asset purchase agreement with competitor Constellation (...)

The US DoJ requires divestiture of commercial health insurance business for a healthcare merger in New Hampshire to proceed (Harvard Pilgrim / Health Plan Holdings)
US Department of Justice (Washington DC)
Justice Department Requires Divestiture of Tufts Health Freedom Plan in Order for Harvard Pilgrim and Health Plan Holdings to Proceed With Merger* Divestiture Will Preserve Competition for Commercial Health Insurance in New Hampshire The Department of Justice announced today that it would (...)

The US FTC approves a prosthetics manufacturer’s application to divest assets it gained through the acquisition of prosthetics company (Otto Bock / Freedom)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Otto Bock HealthCare North America, Inc.’s Application to Divest Assets It Gained through Acquisition of FIH Group Holdings, LLC* Divestiture preserves competition for microprocessor prosthetic knees The Federal Trade Commission has approved an application by prosthetics (...)

The US DoJ requires divestiture of digital do-it-yourself tax preparation business for the merger of financial software companies to proceed (Intuit / Credit Karma)
US Department of Justice (Washington DC)
Justice Department Requires Divestiture of Credit Karma Tax for Intuit to Proceed with Acquisition of Credit Karma* Divestiture Will Preserve Competition for Digital Do-It-Yourself Tax Preparation Products The Department of Justice announced today that it is requiring Intuit Inc. and Credit (...)

The US FTC clears a merger between two medical device companies subject to divestments (Stryker / Wright Medical Group)
US Federal Trade Commission (FTC) (Washington)
FTC Requires Medical Device Companies Stryker Corp. and Wright Medical Group N.V. to Divest Assets to Preserve Competition* The Federal Trade Commission will require medical device companies Stryker Corp. and Wright Medical Group N.V. to divest all assets related to Stryker’s total ankle (...)

The US FTC imposes conditions on a pharmaceutical merger because of competition concerns in ten generic drug markets (Mylan / Upjohn)
US Federal Trade Commission (FTC) (Washington)
FTC Imposes Conditions on Combination of Pfizer Inc.’s Upjohn and Mylan N.V.* Pharmaceutical companies Pfizer Inc. and Mylan N.V. have agreed to divest assets and abide by other conditions to settle Federal Trade Commission charges that the proposed combination of Upjohn Inc. and Mylan N.V. (...)

The US DoJ conditionally clears a fibre-based telecom merger in Puerto Rico and the US Virgin Islands (Liberty Latin America / AT&T)
US Department of Justice (Washington DC)
Justice Department Requires Divestiture In Order For Liberty Latin America To Acquire AT&T’s Telecommunications Operations In Puerto Rico And The U.S. Virgin Islands* Divestiture Will Preserve Competition for Fiber-Based Telecommunications Services for Enterprise Customers in Puerto Rico (...)

The US DOJ conditionally clears a merger in markets for small container commercial waste collection and municipal solid waste disposal in over 50 local markets in 10 States (Waste Management / Advanced Disposal Services)
US Department of Justice (Washington DC)
Justice Department Requires Waste Management To Divest Assets In Order To Proceed With Advanced Disposal Services Acquisition* Divestiture Will Preserve Competition in Markets for Small Container Commercial Waste Collection and Municipal Solid Waste Disposal in Over 50 Local Markets in 10 (...)

The US FTC requests public comment on prosthetics manufacturer’s application to approve divestiture of assets it gained during acquisition (Otto Bock / Freedom)
US Federal Trade Commission (FTC) (Washington)
FTC Requests Public Comment on Otto Bock HealthCare North America, Inc.’s Application to Approve Divestiture of Assets It Gained through Acquisition of FIH Group Holdings, LLC* The Federal Trade Commission is currently accepting public comments on an application by prosthetics manufacturer Otto (...)

The US FTC approves final order imposing divestitures as a condition of a merger in the markets for gasoline and diesel fuel (Arko Holdings / Empire Petroleum Partners)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Imposing Conditions on Arko Holdings Ltd.’s Acquisition of Empire Petroleum Partners, LLC* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Arko Holdings Ltd.’s acquisition of Empire Petroleum Partners, LLC (...)

The US DoJ requires divestiture in the acquisition of a craft brew alliance (Anheuser-Busch InBev / Craft Brew Alliance)
US Department of Justice (Washington DC)
Justice Department Requires Divestiture In Order For Anheuser-Busch To Acquire Craft Brew Alliance* Divestiture Will Preserve Competition in the Beer Industry in the State of Hawaii The Department of Justice announced today that it is requiring Anheuser-Busch InBev SA/NV (ABI), its (...)

The US FTC announces a revamped merger retrospective program
US Federal Trade Commission (FTC) (Washington)
FTC’s Bureau of Economics to Expand Merger Retrospective Program* The Federal Trade Commission’s Bureau of Economics has announced a revamped Merger Retrospective Program, which will expand and formalize the Bureau’s retrospective research efforts that have already produced studies analyzing the (...)

The US FTC approves final order requiring animal health product suppliers to divest assets in three product markets as a condition of acquisition (Elanco Animal Health / Bayer Animal Health)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Requiring Animal Health Product Suppliers Elanco Animal Health, Inc. and Bayer Animal Health GmbH to Divest Assets in Three Product Markets as a Condition of Acquisition* Following a public comment period, the Federal Trade Commission has approved a final order (...)

The US FTC approves a final order imposing conditions on an acquisition between two big pharmaceutical companies (AbbVie / Allergan)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Imposing Conditions on AbbVie Inc.’s Acquisition of Allergan plc* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that AbbVie’s $63 billion acquisition of Allergan would violate federal antitrust law. According (...)

The US DoJ issues its merger remedies manual which provides that the framework the DoJ will utilise in implementing relief in mergers reviewed by its attorneys and economists
Skadden, Arps, Slate, Meagher & Flom (Washington)
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Skadden, Arps, Slate, Meagher & Flom (New York)
On September 3, 2020, the Department of Justice’s Antitrust Division (the DOJ) issued its new Merger Remedies Manual (the Manual), which provides the framework the DOJ will utilize going forward to implement relief in mergers reviewed by its attorneys and economists. The DOJ has updated its (...)

The US DoJ issues modernized merger remedies manual
US Department of Justice (Washington DC)
Justice Department Issues Modernized Merger Remedies Manual* Merger Remedies Manual Reaffirms Antitrust Division’s Commitment to Effective Structural Relief and Reflects Renewed Focus on Enforcing Consent Decree Obligations The Department of Justice issued today the Merger Remedies Manual, (...)

The US DoJ issues a revised policy guide to merger remedies
Cleary Gottlieb Steen & Hamilton (Washington)
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Cleary Gottlieb Steen & Hamilton (Washington)
On September 3, 2020, the Antitrust Division of the DOJ issued a revised Policy Guide to Merger Remedies, following shortly after it announced a reorganization of its civil enforcement to create an Office of Decree Enforcement and Compliance. The Policy Guide to Merger Remedies largely (...)

The US DoJ releases merger remedies manual
Sheppard Mullin (Los Angeles)
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Sheppard Mullin (Washington)
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Sheppard Mullin (Washington)
DOJ Antitrust Division Releases New Merger Remedies Manual* On September 3, 2020, the DOJ’s Antitrust Division released its Merger Remedies Manual. The manual provides important guidance on what DOJ considers to be adequate solutions to addressing competitive issues in M&A deals challenged (...)

The US DoJ releases merger remedies manual
Skadden, Arps, Slate, Meagher & Flom (New York)
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Skadden, Arps, Slate, Meagher & Flom (New York)
On Sept. 3, the Antitrust Division of the Department of Justice (DOJ) released the Merger Remedies Manual (the manual), which provides guidance on how the agency currently intends to approach the structure and implementation of remedies in merger cases. See Antitrust Div., U. S. Department of (...)

The US FTC approves final order imposing structural remedies on 2 casino companies’ merger (Eldorado Resorts / Caesars Entertainment)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Imposing Conditions on Casino Operators Eldorado Resorts, Inc. and Caesars Entertainment Corporation* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Eldorado’s $17.3 billion agreement to acquire Caesars (...)

The US FTC requires divestitures as a condition of a merger in the markets for gasoline and diesel fuel (Arko Holdings / Empire Petroleum Partners)
US Federal Trade Commission (FTC) (Washington)
FTC Requires Divestitures as Condition of Arko Holdings Ltd.’s Acquisition of Empire Petroleum Partners, LLC* Arko Holdings Ltd. and Empire Petroleum Partners, LLC have agreed to divest retail fuel assets in local gasoline and diesel fuel markets across four states to settle Federal Trade (...)

The US DoJ reaches settlement with new stricter conditions and fines a telecom company’s merger after finding violations of the original conditions (CenturyLink / Level 3 Communications)
US Department of Justice (Washington DC)
Justice Department Brings Enforcement Action Against Centurylink* In Significant Action, CenturyLink Agrees to Extend Term, Appoint Independent Monitor, and Reimburse Taxpayers for the Costs and Fees of the Violations The Department of Justice announced today that CenturyLink, Inc. has agreed (...)

The US FTC approves final order imposing conditions on the transfer of ownership between energy companies (Tri Star Energy / Hollingsworth Oil Company / C & H Properties / Ronald L. Hollingsworth)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Imposing Conditions on Tri Star Energy, LLC’s Acquisition of Certain Assets of Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth* Following a public comment period, the Federal Trade Commission has approved a final order settling charges (...)

The US FTC requires global suppliers of animal health products to divest assets in 3 product markets as a condition for merger clearance (Elanco / Bayer)
US Federal Trade Commission (FTC) (Washington)
FTC Requires Global Suppliers of Animal Health Products Elanco Animal Health, Inc. and Bayer Animal Health GmbH to Divest Assets in Three Product Markets, as a Condition of Merger* The Federal Trade Commission will require global suppliers of animal products, Elanco Animal Health, Inc. and (...)

The US FTC fines retail fuel station operator and its affiliate for failing to divest 10 retail gas stations as required by earlier order (Alimentation Couche-Tard / CrossAmerica Partners)
US Federal Trade Commission (FTC) (Washington)
Alimentation Couche-Tard Inc. and CrossAmerica Partners LP Agree to Pay $3.5 Million Civil Penalty to Settle FTC Allegations that they Violated 2018 Order* Retail fuel station and convenience store operator Alimentation Couche-Tard Inc. (“ACT”) and its former affiliate, CrossAmerica Partners LP (...)

The US FTC fines $3.5 million a retail fuel station operator and its affiliate for violation of a settlement agreement requiring the divesture of 10 retail gas stations (Alimentation Couche-Tard / CrossAmerica Partners)
McDermott Will & Emery (Washington)
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McDermott Will & Emery (Washington)
The US Federal Trade Commission (FTC) recently extracted a $3.5 million civil penalty from two companies involved in a gas station merger. The FTC asserts the companies violated their settlement agreement with the government, which required the divestment of 10 gas stations within 120 days from (...)

The US DoJ congratulates the merger of telecom operator on closing the agreed divestiture with a satellite TV company (T-Mobile / Dish / Boost)
US Department of Justice (Washington DC)
Justice Department Congratulates T-Mobile And Dish For Closing The Boost Divestiture* T-Mobile US Inc. (T-Mobile) and Dish Network Corporation (Dish) announced today that they closed T-Mobile’s divestiture of Boost Network (Boost) to Dish. Boost was legacy Sprint Corporation’s prepaid wireless (...)

The US FTC requests two casino operators to divest assets in two local markets as a condition of their merger (Eldorado Resorts / Caesars Entertainment)
US Federal Trade Commission (FTC) (Washington)
FTC Requires Casino Operators Eldorado Resorts, Inc. and Caesars Entertainment Corporation to Divest Assets in Two Local Markets as a Condition of Merger* The Federal Trade Commission will require casino operator Eldorado Resorts, Inc. to divest casino-related assets in the South Lake Tahoe (...)

The US FTC clears transfer of ownership over certain assets between energy companies subject to divestments (Tri Star Energy / Hollingsworth Oil Company / C & H Properties / Ronald L. Hollingsworth)
US Federal Trade Commission (FTC) (Washington)
FTC Requires Divestitures as Condition of Tri Star Energy, LLC’s Acquisition of Certain Assets of Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth* Tri Star Energy, LLC and Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth have (...)

The US FTC approves final order settling all charges that manufacturer of law enforcement equipment entered into anti-competitive agreements with the seller of body-worn camera systems when they entered a merger of their businesses (Safariland / Axon / VieVu)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Settling Charges that VieVu’s Former Parent Company Safariland Entered into Anticompetitive Agreements with Body-Worn Camera Systems Seller Axon* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Safariland, (...)

The US FTC finishes public consultation period and clears a pharmaceutical merger subject to divestments in highly concentrated markets that supply biopharmaceutical companies with key inputs (Danaher / GE Biopharma)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Settling Charges that Danaher Corporation’s Acquisition of GE Biopharma Was Anticompetitive* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Danaher Corporation’s acquisition of GE Biopharma would likely (...)

The US FTC clears merger of medical device companies subject to the divestment of one’s myoelectric elbows business to competitors (College Park Industries / Össur Hf)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Imposing Conditions on Össur Hf’s Acquisition of College Park Industries, Inc.* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Össur Hf’s proposed acquisition of College Park Industries, Inc. would violate (...)

The US DoJ files proposed final judgment with US District Court for the Northern District of Ohio requiring divestiture following historic arbitration win (Novelis / Aleris)
US Department of Justice (Washington DC)
Justice Department Requires Divestiture Following Historic Arbitration Win* Divestiture Will Preserve Competition for Aluminum Automotive Body Sheet in North America The Department of Justice announced today that it has filed a proposed final judgment with the U.S. District Court for the (...)

The US FTC clears merger of two Big Pharma companies after they agreed to divest 3 drugs businesses (AbbVie / Allergan)
US Federal Trade Commission (FTC) (Washington)
FTC Imposes Conditions on AbbVie Inc.’s Acquisition of Allergan plc* Agency requires companies to divest three drugs Pharmaceutical companies AbbVie Inc. and Allergan plc have agreed to divest assets to settle Federal Trade Commission charges that AbbVie’s proposed $63 billion acquisition of (...)

The US DoJ blocks the acquisition of a major dairy farmer’s fluid milk processing plants but approves a third dairy farmer buying the plants (Dairy Farmers of America / Dean Foods / Prairie Farms)
US Department of Justice (Washington DC)
Justice Department Requires Divestitures as Dean Foods Sells Fluid Milk Processing Plants to DFA out of Bankruptcy* Department Also Closes Investigation into Acquisition of Other Dean Plants by Prairie Farms The Department of Justice announced today the conclusion of its investigation into (...)

The US FTC approves final order settling charges that merger of polyurethane foam producers was anti-competitive (FXI Holdings / Innocor)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Settling Charges that Merger of Polyurethane Foam Producers Was Anticompetitive* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that the merger of polyurethane foam producers FXI Holdings, Inc. and Innocor, (...)

The US FTC proposes new order settling all charges that manufacturer of law enforcement equipment entered into anticompetitive agreements with the seller of body-worn camera systems when they entered a merger of their businesses (Safariland / Axon / VieVu)
US Federal Trade Commission (FTC) (Washington)
VieVu’s Former Parent Company Safariland Agrees to Settle Charges That It Entered into Anticompetitive Agreements with Body-Worn Camera Systems Seller Axon* Settlement is part of a larger case challenging Axon’s consummated acquisition of former competitor VieVu Safariland, LLC, which (...)

The US FTC clears merger of 2 veterinary service providers subject to divestments in 3 geographic markets (Compassion First / National Veterinary Associates)
US Federal Trade Commission (FTC) (Washington)
FTC Approves Final Order Imposing Conditions on Veterinary Service Providers Compassion First and National Veterinary Associates* Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Compassion First’s proposed $5 billion acquisition (...)

The US FTC imposes remedies on a proposed merger between two prosthetic limb manufacturers including the divestment of the myoelectric elbow business (College Park Industries / Össur Hf)
US Federal Trade Commission (FTC) (Washington)
FTC Imposes Conditions on Össur Hf’s Acquisition of College Park Industries, Inc.* Conditions to remedy competition loss in the U.S. market for myoelectric elbows Össur Hf and College Park Industries, Inc., both makers of prosthetic limbs, have agreed to divest College Park’s myoelectric elbow (...)

The US District Court of Columbia enters the final judgment regarding the merger of the third and fourth-largest telecommunication providers and allows for proposed structural remedies to proceed (T-Mobile / Sprint)
US Department of Justice (Washington DC)
Court Enters Final Judgment in T-Mobile/Sprint Transaction: Order Allows Divestitures to Proceed* Today, a federal district court in Washington, D.C., concluded that the Antitrust Division’s resolution of its challenge to the merger between T-Mobile and Sprint was in the public interest and (...)

The US DoJ challenges a merger that highlights key considerations for antitrust reviews of aerospace and defence industry transactions (United Technologies / Raytheon)
McDermott Will & Emery (Washington)
The DOJ Antitrust Division’s recent challenge to the United Technologies/Raytheon merger highlights a few key considerations for antitrust reviews of aerospace and defense industry transactions. The case is a useful illustration of important principles applicable to this unique industry. IN (...)

The US DoJ requires divestitures in a merger of two national defence contractors to address vertical and horizontal antitrust concerns (United Technologies Corporation / Raytheon)
US Department of Justice (Washington DC)
Justice Department Requires Divestitures in Merger Between UTC and Raytheon to Address Vertical and Horizontal Antitrust Concerns* Divestitures Will Preserve Competition in the United States for Military Airborne Radios, Military GPS Systems, and Reconnaissance Satellite Components The (...)

The US FTC clears a global biopharmaceutical merger subject to several divestments in highly concentrated product markets for ten products that companies use to manufacture biopharmaceutical drugs (Danaher / GE Biopharma)
US Federal Trade Commission (FTC) (Washington)
FTC Imposes Conditions on Danaher Corporation’s Acquisition of GE Biopharma* Merger likely to reduce competition in highly concentrated markets that supply biopharmaceutical companies with key inputs Danaher Corporation has agreed to divest assets to settle Federal Trade Commission charges (...)

The US DoJ wins historic arbitration of a merger dispute forcing the merging parties to fully divest their entire aluminum auto body sheet operations in North America (Novelis / Aleris)
US Department of Justice (Washington DC)
Justice Department Wins Historic Arbitration of a Merger Dispute* Novelis Inc. Must Divest Assets to Consummate Transaction with Aleris Corporation The Department of Justice prevailed in a first-of-a-kind arbitration, which will resolve a civil antitrust lawsuit challenging Novelis’s proposed (...)

The US DoJ brings for the first time a merger enforcement action using arbitration and forces the divestiture of aluminium production in North America (Novelis / Aleris)
Skadden, Arps, Slate, Meagher & Flom (New York)
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Skadden, Arps, Slate, Meagher & Flom (New York)
DOJ Merger Enforcement Arbitration: A Sign of Things To Come?* On March 2020, the Antitrust Division Of the Department Of Justice successfully secured the divestiture by Novelis of Aleris Corporation’s North American aluminum production facilities in U.S. v. Novelis et al. with an unorthodox (...)

Merger remedies in the US: an overview of the leading cases
Shearman & Sterling (New York)
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Amazon
This Special Issue presents a collection of important U.S. federal antitrust merger remedies since 2000. The merger remedies guidance documents issued by the U.S. federal antitrust enforcement agencies, the Antitrust Division of the United States Department of Justice (“DOJ”) and the Federal (...)

The US District Court for the Southern District of New York clears merger between top third and fourth wireless communications providers (State AGs / T-Mobile / Sprint)
Weil, Gotshal & Manges (New York)
,
Weil, Gotshal & Manges (Washington)
,
Weil, Gotshal & Manges (Washington)
T-Mobile’s Marathon to Acquire Sprint: Five Takeaways from the T-Mobile/Sprint Antitrust Litigation After almost two years of scrutiny by state and federal regulators and an ensuing court battle, T-Mobile US, Inc. (“T-Mobile”) is moving forward with its acquisition of Sprint Corporation (...)

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