Region: United States of America

Slaughter: FTC uses "far too many" resources on clearly illegal mergers

Federal Trade Commission member Rebecca Kelly Slaughter has said the agency spends “far too many of our enforcement dollars on mergers that are clearly illegal”, demonstrating that enforcement is failing to deter competitive harm.

18 November 2020

FTC has “most productive merger enforcement year” amid calls for more funding

The Federal Trade Commission’s competition bureau has enjoyed “its most productive merger enforcement year” since the agency raised its transaction notification thresholds 20 years ago, an agency official has said.

18 November 2020

Wachtell and Sullivan & Cromwell steer PNC/BBVA deal

PNC has tapped Wachtell Lipton Rosen & Katz to guide its $11.6 billion acquisition of BBVA’s US business, which has turned to Sullivan & Cromwell for antitrust advice.

17 November 2020

FTC challenges hospital tie-up in Memphis

The Federal Trade Commission has sued to block Methodist Le Bonheur Healthcare, a hospital system based in Memphis, Tennessee, from acquiring two competing hospitals in the area.

16 November 2020

A Q&A with Beau Buffier

Wilson Sonsini Goodrich & Rosati announced on 12 November that Beau Buffier, the former antitrust bureau chief for the New York State attorney general’s office, has joined the firm as a partner in New York. In a Q&A with GCR USA, Buffier discussed revolving doors, the bureau’s coordination with other states during their challenge to the T-Mobile/Sprint deal and why he decided to join his new firm.

16 November 2020

The show must go on: The Tipline for 10 November 2020

After a few postponements, GCR’s 10th Annual Awards Ceremony has finally arrived. For the first (and hopefully last) time, the event is entirely virtual, giving you the opportunity to attend from wherever you can get a signal. As always, GCR is advertisement free. So while we may be GCR TV for the day, do not expect to find us wrapped up in the Local TV Advertising antitrust litigation.

10 November 2020

Another cup of Joe: The Tipline for 9 November 2020

People from enough arbitrarily-drawn districts have informed a group of largely-unknown electors that they would like to order another cup of Joe. After seven terms in the Senate and two terms as the nation’s number-two in-command, President-elect Joe Biden will have the opportunity to appoint leadership at the two US antitrust agencies and utilise the bully pulpit to adjust the nation’s competition policy as he sees fit. Right now, it is not all that clear if he wishes to continue on the trail set during the Obama years or try to pave a new path as envisioned by today’s antitrust crusaders. If it's the latter, we may all need more coffee.

09 November 2020

Molten hot docs: The Tipline for 6 November 2020

In litigation, there are “hot” documents and then there are “molten-rock-spewing-from-the-Earth’s-crust hot” documents. The Department of Justice’s lawsuit seeking to block Visa’ $5 billion acquisition of Plaid included the latter. As Visa mulled buying the financial technology company, the Antitrust Division said one executive likened the competitive threat posed by Plaid to an island volcano with massive potential hidden beneath the water’s surface. The Visa executive did not settle for memorialising his metaphor with mere words, gracing antitrust experts with a hand-drawn illustration that would be the envy of any parents’ refrigerator.

06 November 2020

Proposition 224 million: The Tipline for 5 November 2020

What’s in a name? $224 million, apparently. Only two of Tuesday’s US Senate races involved more financing than the campaigning related to California’s Proposition 22. After all of that, companies like Uber and Lyft won the right to call their workers “independent contractors” under the state’s labour law, presumably saving untold profits. That seems like a bargain when considering the US spent more than 62 times that much for who they could call POTUS.

05 November 2020

Until every vote is counted: The Tipline for 4 November 2020

Patience is a virtue. That is something antitrust counsel are well aware of, even when their merging clients are not. The Federal Trade Commission yesterday cleared Stryker’s acquisition of rival Wright Medical 10 months after issuing a second request for information. Hopefully those tallying the final votes in the race for the White House are working on more of an early-termination-like schedule so we can all go back to focusing on competition.

04 November 2020

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