Takeaways From Government Victories In Recent Antitrust Merger Trials

Recent government victories in the antitrust challenges to the consummated mergers of Bazaarvoice/PowerReviews and St. Luke's/Saltzer are the latest in a string of trial successes by the Department of Justice ("DOJ") and the Federal Trade Commission ("FTC"), respectively.  Below are some practical takeaways from the two decisions. 

Takeaways

• Companies Should Consult Antitrust Counsel Even if an HSR Filing is Not Required.  Simply because a deal does not require an HSR filing, does not mean it will escape scrutiny.  Both Bazaarvoice and St. Luke's involved situations where no HSR filing was made and the mergers had been consummated.  These cases reflect the fact that if the agencies believe there is a problem—even with a smaller consummated deal—they are willing to devote the resources to reverse it and, in the process, to send a message.