Since 2010, the Horizontal Merger Guidelines have provided a reasonably well-defined framework under which to analyze horizontal mergers. The guidelines allow parties to assess antitrust risk in negotiations and structure arguments when advocating for clearance. The standards applicable to vertical mergers, however, were not completely clear.
In this episode of S&C Critical Insights, litigation partner Dustin Guzior and litigation special counsel Sophie Vandergrift discuss the recent publication of Draft Vertical Merger Guidelines by the DOJ Antitrust Division and Federal Trade Commission. The draft guidelines would apply to mergers between companies involved in different levels of the same supply chain, and they are subject to change based on public comments that may be submitted through February 11, 2020. Dustin Guzior is a partner of Sullivan & Cromwell Litigation Group. His practice focuses on antitrust and intellectual property matters, as well as complex commercial disputes in arbitration proceedings and trials. Named as New York Metro Rising Star for 2019 by Super Lawyers, Dustin has represented clients in connection with merger clearance in a range of industries, including agriculture, pharmaceuticals, financial products and services, industrial equipment, energy, semiconductor technology and banking. Sophie Vandergrift joined S&C’s as a special counsel in the litigation group this past fall from the FTC’s Bureau of Competition, where she conducted merger investigations and litigations. Her practice focuses on antitrust counseling, merger investigations and clearance, and antitrust litigation, particularly in the healthcare, consumer and retail, and distribution industries. S&C’s Litigation Group draws upon our rich expertise in corporate, financial and transactional law, forming seamlessly integrated teams that handle any related or follow-on matters that arise. The Firm manages issues through every stage of the litigation life cycle, before any court, arbitration panel or regulatory agency. Subscribe to our S&C Critical Insights podcast series on Spotify, Apple Podcasts, Stitcher, YouTube or Podbean.
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