Peter Guryan, Richard Jamgochian, Jan 29, 2013
In 2012, the U.S. antitrust agencies fulfilled their mission of reestablishing themselves as aggressive antitrust enforcers. Second Request investigations have increased by more than 50 percent, and the percentage of merger challenges has more than doubled during the Obama administration. Recent developments in the last quarter of 2012 are a testament to this era of heightened scrutiny and active litigation efforts. In October, for example, the parties in 3M/Avery Dennison abandoned their transaction after being informed that the Department of Justice planned to block the deal.
Looking ahead, while the leadership of the agencies is transitioning-a new Assistant Attorney General (William Baer), a new FTC Commissioner (Joshua Wright), and possibly a new FTC Chairman in the near future-we do not expect any major policy shifts. The trend of tougher and broader enforcement will continue in 2013. Moreover, we expect that certain industries-high-tech and healthcare in particular-will continue to receive significant antitrust attention in 2013. Accordingly, it remains paramount that parties involved in strategic transactions consider and prepare for addressing the potential antitrust implications early on in the process.
Following are some notable highlights and takeaways from the agencies’ most recent activity.
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