Janalyn Schreiber, CIPM, CISSP, CDPSE’s Post

On December 18, 2023, the DOJ and FTC issued the final 2023 Merger Guidelines. These guidelines replace the 2010 Horizontal Merger Guidelines and the 2020 Vertical Merger Guidelines. There are several notable changes which need a particular attention from practical standpoint. The new guidelines are a substantial departure from the prior guidelines in a number of respects. Perhaps the most significant change is that the guidelines lower the threshold market concentration level at which the agencies would presume a merger to be illegal. The new guidelines also include a new presumption that a merger resulting in the merged firm having a market share greater than 30% would be illegal if it also resulted in a relatively modest increase in market concentration. Another new guideline states that the agencies will seek to prevent those mergers that would entrench or extend a dominant position through exclusionary conduct, weakening competitive constraints, or otherwise harming the competitive process.

On December 18, 2023, the DOJ and FTC issued the final 2023 Merger Guidelines. These guidelines replace the 2010 Horizontal Merger Guidelines and the 2020 Vertical Merger Guidelines. There are several notable changes which need a particular attention from practical standpoint. The new guidelines are a substantial departure from the prior guidelines in a number of respects. Perhaps the most significant change is that the guidelines lower the threshold market concentration level at which the agencies would presume a merger to be illegal. The new guidelines also include a new presumption that a merger resulting in the merged firm having a market share greater than 30% would be illegal if it also resulted in a relatively modest increase in market concentration. Another new guideline states that the agencies will seek to prevent those mergers that would entrench or extend a dominant position through exclusionary conduct, weakening competitive constraints, or otherwise harming the competitive process.

On December 18, 2023, the DOJ and FTC issued the final 2023 Merger Guidelines. These guidelines replace the 2010 Horizontal Merger Guidelines and the 2020 Vertical Merger Guidelines. There are several notable changes which need a particular attention from practical standpoint. The new guidelines are a substantial departure from the prior guidelines in a number of respects. Perhaps the most significant change is that the guidelines lower the threshold market concentration level at which the agencies would presume a merger to be illegal. The new guidelines also include a new presumption that a merger resulting in the merged firm having a market share greater than 30% would be illegal if it also resulted in a relatively modest increase in market concentration. Another new guideline states that the agencies will seek to prevent those mergers that would entrench or extend a dominant position through exclusionary conduct, weakening competitive constraints, or otherwise harming the competitive process.

On December 18, 2023, the DOJ and FTC issued the final 2023 Merger Guidelines. These guidelines replace the 2010 Horizontal Merger Guidelines and the 2020 Vertical Merger Guidelines. There are several notable changes which need a particular attention from practical standpoint. The new guidelines are a substantial departure from the prior guidelines in a number of respects. Perhaps the most significant change is that the guidelines lower the threshold market concentration level at which the agencies would presume a merger to be illegal. The new guidelines also include a new presumption that a merger resulting in the merged firm having a market share greater than 30% would be illegal if it also resulted in a relatively modest increase in market concentration. Another new guideline states that the agencies will seek to prevent those mergers that would entrench or extend a dominant position through exclusionary conduct, weakening competitive constraints, or otherwise harming the competitive process.

📢 We have opened a consultation into the proposed adoption of revised CCPC Guidelines for Merger Analysis. We are now inviting interested parties to submit their views by close of business on Tuesday 12 November. Find out more, including how to make a submission, here: https://bit.ly/3Y8ejqJ The CCPC’s current Guidelines for Merger Analysis were adopted by the CCPC in October 2014. The Merger Guidelines set out the CCPC’s analytical framework and approach to conducting merger analysis. They cover each of the areas of analysis the CCPC may undertake to establish whether or not a merger will lead to a substantial lessening of competition in any market for goods or services in the State.

UK Merger Control Update If you are interested in how the UK's Competition and Markets Authority has been reviewing mergers recently, you might find our article in the ICLG merger control 2025 guide worth a read. We have highlighted a number of key trends coming out of recent CMA decisions. You can access the article here: https://lnkd.in/eMKKyjm6

Major changes to Australia's merger control regime: Last week the Australian Treasurer announced the introduction of a new single mandatory, suspensory merger control system which would empower the ACCC, as the key decision-maker, to block a deal if it reasonably believes the merger would have the effect or likely effect of substantially lessening competition. The new merger control system is to come into effect from 1 January 2026. This is a significant development for all companies involved in M&A activity in the Australian market. You can read more about it, including a diagram summary of the new merger control process and timelines, in our client alert. #mergers #competition #mergercontrolsystems #australia

Merger control and compliance with the law is a big deal for the M&A industry. On 10 April 2024, the Treasurer of Australia announced a major change to Australia's merger control regime with the introduction of a new single mandatory, suspensory merger control system. The Baker McKenzie team provides an update below. #mandatory #suspensory #mergercontrolsystems

When planning a merger of two companies, outline the details of how the business is working at present and what are the changes in the operations and processes to ensure a smooth merger.

I have released a short video lecture on 2023 Merger Guidelines (https://rb.gy/s6y0ro). Although this is in Japanese, please enjoy. Through this lecture, you will realize a big difference from 2010 Horizontal Merger Guidelines and 2020 Vertical Merger Guidelines. #antitrust #competitionlaw