The US DoJ and FTC release their Vertical Merger Guidelines

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On June 30, 2020, the DOJ and FTC released their Vertical Merger Guidelines (VMGs). We expect a VMGs Commentary to follow in the next few weeks or so. Overall, the Guidelines recognize that “vertical mergers often benefit consumers” (§ 1, at 2) and set forth non-exhaustive ways in which non-horizontal mergers may substantially lessen competition. The three primary theories described are foreclosure and raising rivals’ costs, access to competitively sensitive information, and facilitating collusion. The Guidelines also cover harms from mergers that increase the cost of entry into a relevant market; mergers that disadvantage rivals through the acquisition of a complementary product; and “diagonal” mergers (i.e., those that combine firms or assets at different stages of competing supply

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Auteurs

  • Axinn Veltrop & Harkrider (New York)
  • Axinn Veltrop & Harkrider (Washington)

Citation

John D. Harkrider, Koren Wong-Ervin, The US DoJ and FTC release their Vertical Merger Guidelines, 30 juin 2020, e-Competitions June 2020, Art. N° 102697

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