Showing archive for: “DOJ”
FTC Alumni Response to FTC/DOJ RFI on Serial Acquisitions
As former antitrust enforcers and alumni of the Federal Trade Commission (FTC), we are pleased to submit these comments to the FTC and U.S. Justice Department’s (DOJ) Antitrust Division (DOJ) in response to your Request for Information on Corporate Consolidation Through Serial Acquisitions and Roll-Up Strategies (RFI). We have devoted significant portions of our careers ... FTC Alumni Response to FTC/DOJ RFI on Serial Acquisitions
Should the Federal Government Regulate Artificial Intelligence?
Artificial intelligence is in the public-policy spotlight. In October 2023, the Biden administration issued its Presidential Executive Order on AI, which directed federal agencies to cooperate in protecting the public from potential AI-related harms. President Joe Biden said in his March 2024 State of the Union Address that government enforcers will crack down on the ... Should the Federal Government Regulate Artificial Intelligence?
Live Nation Breakup: Are Mergers Really to Blame for Ticketmaster’s Problems?
The U.S. Justice Department (DOJ) announced yesterday that it has filed suit, along with 29 states and the District of Columbia, charging Live Nation Entertainment Inc. and its subsidiary Ticketmaster LLC with monopolizing the live-events industry in violation of Section 2 of the Sherman Act. The suit, filed in the U.S. District Court for the ... Live Nation Breakup: Are Mergers Really to Blame for Ticketmaster’s Problems?
Steeling to Block a Merger
In an April 17 address to United Steelworkers in Pittsburgh, President Joe Biden vowed that his administration would “thwart the acquisition of U.S. Steel by a Japanese company,” Nippon Steel, telling the assembled union members that U.S. Steel “has been an iconic American company for more than a century and it should remain totally American.” ... Steeling to Block a Merger
DOJ’s Case Against Apple: Beware of Forcing ‘Efficiencies’
The U.S. Justice Department’s (DOJ) recent complaint charging Apple with monopolizing smartphone markets is, according to Assistant U.S. Attorney General Jonathan Kanter, intended as a contribution to the agency’s “enduring legacy of taking on the biggest and toughest monopolies in history.” Unfortunately, the case has fundamental weaknesses in its assessment of both Apple’s alleged monopoly ... DOJ’s Case Against Apple: Beware of Forcing ‘Efficiencies’
Chris DeMuth Jr: Perspectives on Antitrust from Financial Markets and Venture Capital
How much do you take potential antitrust concerns into account when evaluating investments or mergers and acquisitions? Has this changed over time? Antitrust is a big part of M&A and the work I do in analyzing deals at Rangeley Capital. It has always been important, but the importance has grown with this administration’s activist approach. ... Chris DeMuth Jr: Perspectives on Antitrust from Financial Markets and Venture Capital
Antitrust at the Agencies Roundup: The Supply Chain, Part Deux
But First, Money Makes the World Go ‘Round For all my carping about this or that program or enforcement matter, it seems to me a very good thing that Congress passed—and President Joe Biden signed into law—the spending package that will keep much of the federal government up and running for Fiscal Year 2024 (see ... Antitrust at the Agencies Roundup: The Supply Chain, Part Deux
US v. Apple Lawsuit Has Big Implications for Competition and Innovation
The lawsuit filed yesterday by the U.S. Justice Department (DOJ) against Apple for monopolization of the U.S. smartphone market (joined by 15 states and the District of Columbia) has big implications for American competition and innovation. At the heart of the complaint is the DOJ’s assertion that: [Apple’s] anticompetitive acts include, but are not limited ... US v. Apple Lawsuit Has Big Implications for Competition and Innovation
Antitrust at the Agencies Roundup: Supply Chains, Noncompetes, and Greedflation
The big news from the agencies may be the lawsuit filed today by the U.S. Justice Department (DOJ) and 16 states against Apple alleging monopoly maintenance in violation of Section 2 of the Sherman Act. It’s an 86-page complaint and it’s just out. I’ll write more about it next week. Two quick observations: First, the ... Antitrust at the Agencies Roundup: Supply Chains, Noncompetes, and Greedflation
The Whole Wide World of Government
First, a bit of self-promotion: the International Center for Law & Economics (ICLE) hosted an excellent panel discussion Feb. 26 on the 2023 merger guidelines. I moderated, but the real attractions were the panelists: Maureen Ohlhausen, Noah Phillips, Bruce Kobayashi, Diana Moss, and Kristen Limarzi. The room was packed, as it should have been. Video ... The Whole Wide World of Government
What Do We Do with Presumptions in Antitrust?
Winter was coming, as it does. We knew the agencies were going to issue new merger guidelines, and then they did. On Dec. 18, 2023, the Federal Trade Commission (FTC) and U.S. Justice Department (DOJ) jointly issued merger guidelines, supplanting 2023’s draft guidelines, the 2010 Horizontal Merger Guidelines, and the 2020 (partially withdrawn) Vertical Merger ... What Do We Do with Presumptions in Antitrust?
The Conundrum of Out-of-Market Effects in Merger Enforcement
Section 7 of the Clayton Act prohibits mergers that harm competition in “in any line” of commerce. And, indeed, the Supreme Court’s decisions in Philadelphia National Bank and Topco are often cited on behalf of the proposition that this means any single cognizable market, and that anticompetitive effects in one market cannot be offset by ... The Conundrum of Out-of-Market Effects in Merger Enforcement
