Takeaways For Dealmakers From US Antitrust Merger Enforcement Trends

Heading into 2025, U.S. antitrust authorities favored litigating to block mergers that raised partial competition concerns, rather than entering into negotiated solutions. Now, well into the new administration, there is evidence of how this enforcement approach has shifted, not just in policy statements, but in live cases as well. The authorities are doing more to resolve concerns at a pre-litigation stage, touting a more efficient process to foster innovation. That said, there have still been new litigated merger cases filed since January. Examining the cases brought and settled, several key trends have emerged that may impact future deal planning.

A Shift in Policy Rhetoric

Early on in the last administration, the former Federal Trade Commission (FTC) chair confirmed that she would "focus [] resources on litigating, rather than on settling." The policy was driven at least in part by the complexity with finding the right solution. As the Department of Justice (DOJ) leadership put