The Obama Trials

The outlier

09 November 2017

Entry, the future and the facts in the FTC’s challenge of STERIS/Synergy Facts matter. Those of us that practise, study or write about the law hear this ­cliché too often. But for three days in August 2015 at the federal courthouse in Cleveland, Ohio, the facts really did matter. Perhaps so much that they rendered insignificant the standard features of a merger-related preliminary injunction hearing that we’ve become so accustomed to seeing: expert witnesses; a panoply of market share calculations; robust debate on the appropriate product and geographic market definitions; reference to (and reliance on) the country’s Horizontal Merger Guidelines; and consideration of preceding cases.