A rock and a hard place: The Tipline for 11 July 2023

Private equity companies waiting to see whether updated US merger guidelines could spell trouble for their deals should be looking to the Department of Justice for potential clues. The DOJ is reportedly nearing a decision on whether to challenge Thoma Bravo’s planned $2.3 billion purchase of cybersecurity company ForgeRock – a potentially significant development after the enforcer signalled its intention to strengthen scrutiny of private equity deals at the start of the year. Politico reports the Antitrust Division has homed in on internal communications showing ForgeRock is a close competitor to another company Thoma Bravo acquired last year.