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ARTICLE · 02 FEBRUARY 2022

What To Expect In 2022 Merger Enforcement: Trends And Developments From 2021

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Despite the ongoing economic impact from the coronavirus pandemic, deal activity in 2021 continued to set new records with global mergers and acquisitions topping $5.5 trillion dollars—far exceeding prior peaks in 2007 and 2015.

United StatesAntitrust/Competition Law
Michael L. Bernstein
Michael L. Bernstein
Matthew Shultz
Matthew Shultz
Francesca M. Pisano
Francesca M. Pisano
Dylan Young
Dylan Young
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Overview and Key Issues from 2021

Despite the ongoing economic impact from the coronavirus pandemic, deal activity in 2021 continued to set new records with global mergers and acquisitions topping $5.5 trillion dollars—far exceeding prior peaks in 2007 and 2015.1 At the same time, 2021 ushered in new leadership—and an aggressive antitrust enforcement agenda—with Jonathan Kanter becoming Assistant Attorney General, Department of Justice Antitrust Division and Lina Khan becoming Chair of the Federal Trade Commission.

Consistent with its 2020 campaign statements, the Biden Administration has moved to aggressively enforce US antitrust laws. And, the new leadership brought a number of high-profile merger challenges, with three deals being challenged or abandoned in the face of a challenge in the last couple of months of 2021, including US Sugar/Imperial Sugar (DOJ challenge), Nvidia/Arm (FTC challenge), and Great Outdoors/Sportsman's Warehouse (abandoned due to FTC

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