FTC Announces Withdrawal Of Vertical Merger Guidelines

On September 15, 2021, the Federal Trade Commission—by a 3-2, party-line vote—withdrew the revised Vertical Merger Guidelines (the "Guidelines") that the FTC and the Department of Justice jointly issued in June 2020.

In a statement announcing the withdrawal, FTC Chair Lina Khan and Commissioners Rohit Chopra and Rebecca Kelly Slaughter argued that the Guidelines include flawed provisions and said that their withdrawal was part of a larger review of the FTC's approach to the enforcement of the U.S. antitrust laws. They maintained that greater consolidation in the economy over the past several decades has led to increased prices and shrinking wages, both a result of a decline in competition. FTC Commissioners Noah Joshua Phillips and Christine Wilson issued a dissenting statement.