On July 12, 2016, ValueAct agreed to pay a record fine of $11 million to settle the Department of Justice Antitrust Division’s (“DOJ”) allegations that ValueAct violated the reporting requirements under of the Hart-Scott-Rodino Act (“HSR Act”) by improperly relying on the “investment only” exemption. HSR Exemption The HSR Act…
Few missions are as important to the U.S. Department of Justice’s Antitrust Division as preventing anti-competitive mergers or permitting them with adequate conditions to prevent competitive harm. After all, a merger is forever — fixing it after the fact is too messy. The DOJ is currently investigating Anheuser-Busch InBev SA/NV’s…
On April 25, 2016, the DOJ entered into settlement agreement approving Charter Communications, Inc.’s (“Charter”) acquisition of Time Warner Cable Inc. (“TWC”) and its related acquisition of Bright House Networks, LLC to create New Charter as long as the parties agreed to certain behavioral conditions. DOJ’s Vertical Concerns Related to…
Corona’s advertising slogan encourages consumers to find their beach, but consumers may soon have trouble finding Corona. In 2013, the U.S.Department of Justice required Anheuser-Busch InBev (ABI) to grant a perpetual and exclusive U.S. license to some of its Grupo Modelo Mexican beer brands that were at the time competing…
On December 15, 2015, the Department of Justice announced that it reached a settlement with AMC Entertainment Holdings Inc. and SMH Theatres Inc. (Starplex Cinemas) that requires AMC to divest two movie theaters in Connecticut and New Jersey to resolve the DOJ’s antitrust concerns. The DOJ found that AMC’s and…
On December 7, 2015, after four weeks of trial in the U.S. District Court of the District of Columbia, GE terminated its $3.3 billion sale of its appliance business to Electrolux. In September of 2014, Electrolux announced its acquisition of GE’s appliance business. The deal was characterized as a way…
On December 3, 2015, the Department of Justice announced that Thai Union Group P.C.L., owner of Tri-Union Seafoods LLC, doing business as Chicken of the Sea International, and Bumble Bee Foods LLC abandoned their deal after the DOJ informed the companies it had serious concerns that the proposed transaction would…
We are increasingly aware of how mergers often cost consumers and the economy in less competition, higher prices and less choice. Fortunately, the Antitrust Division of the Justice Department (“DOJ”) has been more willing to go to court and block deals that will harm consumers. The DOJ should remind itself…
On Monday, October 26, 2015, in a joint statement, the Federal Trade Commission and the U.S. Department of Justice urged the state of Virginia to reform or repeal its certificate-of-need (CON) law. CON laws typically require hospitals to obtain government approval before undergoing expansion projects or purchasing major assets, including…
On September 16, 2015, the Department of Justice’s Antitrust Division (“DOJ” or “Antitrust Division”) issued a statement regarding it decision to close its six month investigation of Expedia’s $1.3 billion acquisition of Orbitz. The decision means that Expedia can close its acquisition of Orbitz to combine two of only three…