FTC And DOJ Issue Final Merger Guidelines That Expand Reviews And Limit Combinations

Highlights

• The Federal Trade Commission (FTC) and the U.S. Department of Justice (DOJ) Antitrust Division jointly released Final Merger Guidelines that would expand significantly the number and types of transactions subject to antitrust challenge.
• The Guidelines advance the view of the FTC and DOJ that prevailing approaches to merger review have been too permissive and not up to the task of identifying and preventing transactions that harm consumers and workers.
• The Guidelines leave largely intact the approach outlined in the initial draft issued by the FTC and DOJ in July 2023.

After "an extensive public consultation process" since late July 2023, the Federal Trade Commission (FTC) and U.S. Department of Justice (DOJ) Antitrust Division on Dec. 18, 2023, jointly announced the release of final Merger Guidelines that would significantly expand the number and types of transactions subject to antitrust challenge. The Guidelines advance the view of the FTC