Jonathan Cheng is counsel in the Antitrust practice of Shearman & Sterling, based in New York. He specializes in the analysis of antitrust issues pertaining to mergers, acquisitions, and joint ventures, particularly in the context of the Hart-Scott-Rodino Act and international merger control laws. He has prepared complex filings for a broad range of clients including private equity funds and portfolio companies, life science companies, oil and gas companies, software and technology companies, manufacturers, and retailers. Jonathan has been praised by clients in The Legal 500 for being “approachable,” “friendly,” and a “terrific lawyer.” Prior to joining the firm, Jonathan was a counsel in the antitrust group of a large U.S. based law firm.
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Proposed FTC and DOJ Merger Guidelines Formalize Biden Administration’s Aggressive Vision for Merger Enforcement – Top Ten Takeaways When losing, some players seek to change the rules. Others seek to change the playing field. On July 19, 2023, the U.S. Department of Justice and the Federal (...)
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Overview Earlier this week, the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice (the “Antitrust Agencies”) announced proposed changes to the premerger notification process that mark the most significant changes to the Hart-Scott-Rodino (“HSR”) Form since (...)
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The EU Foreign Subsidies Regulation (FSR) entered into force on 12 January 2023. It represents a massive expansion in the European Commission’s power to investigate inward investment to the EU. This new regulation—the first of its kind in the world—attempts to assert control over subsidies (...)
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On December 29, 2022, President Biden signed into law The Consolidated Appropriations Act of 2023 also known as The Omnibus Funding Bill (the “Bill”). The Bill includes the Merger Filing Fee Modernization Act which provides for significant changes to the current filing fees under the (...)
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On November 10, 2022, the Federal Trade Commission (FTC) issued a policy statement (the “Policy Statement”) radically expanding the FTC’s interpretation of prohibited “unfair methods of competition” under Section 5 of the FTC Act. According to the Policy Statement, in determining whether (...)
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On Wednesday, October 19, 2022, the Department of Justice Antitrust Division (DOJ) announced that seven directors resigned from their board positions because of DOJ’s concerns that holding the positions violated the Clayton Act’s prohibition on interlocking directorates. Discussed more fully (...)
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On January 21, 2022, the U.S. Federal Trade Commission (FTC) announced the annual changes to the thresholds for the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”). The official publication is expected to be released in the Federal Register on January 24, 2022. (...)
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On February 2, 2021, the U.S. Federal Trade Commission (FTC) announced the annual changes to the thresholds for the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”). The new size of transaction threshold is $92 million. The new HSR Act thresholds will go into (...)
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Overview The U.S. Federal Trade Commission (FTC) and U.S. Department of Justice Antitrust Division (“DOJ” and collectively, the “Agencies”) recently proposed changes to two aspects of the Hart-Scott-Rodino Act (“HSR Act”).The proposed rules are subject to public comment and are unlikely to (...)
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Agencies report annual HSR threshold increases* On January 19, 2017, the FTC announced revisions to the jurisdictional thresholds for the Hart-Scott- Rodino Antitrust Improvements Act of 1976 (HSR Act), which will become effective on February 27, 2017 and apply to transactions consummated on (...)
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Hedge Fund Settles HSR Act Violation, Setting Record $11 Million Fine* On July 12, 2016, two ValueAct funds and their common general partner (collectively, “ValueAct”) agreed to pay an $11 million penalty and adopt extensive compliance procedures to settle alleged violations of the (...)
