13 January 2020
After more than 34 years, the US antitrust enforcers have taken another swing at producing a set of non-horizontal merger guidelines. Those first published by the Department of Justice in 1984 have become an afterthought for an antitrust apparatus more often focused on mergers between horizontal competitors. This time, both the DOJ and Federal Trade Commission weighed in on the matter. And unlike most new parents, the agencies did not trumpet the birth of their newborn for maximum attention; instead, they announced the draft guidelines in a pair of press releases sent out after 5pm on Friday.