Revisiting the 2023 Merger Guidelines: Increased Antitrust Scrutiny for M&A Activity; Trump Administration’s Priorities
A live 90-minute CLE video webinar with interactive Q&A
This CLE webinar will revisit the U.S. Department of Justice's (DOJ) and the Federal Trade Commission's (FTC) 2023 Merger Guidelines and explore the enforcement priorities of the second Trump administration. The panel will highlight the need for companies to plan carefully for M&A activity and to anticipate the increased likelihood of additional regulatory antitrust scrutiny and litigation.
Outline
- Role of Merger Guidelines
- Tool/framework for agencies and public
- Considered as persuasive to courts, but are not law
- Overview of the current Merger Guidelines
- The 13 separate Guidelines agencies will apply to determine the competitive effects of a merger
- Evidence considered/standards
- Approach to market definition
- Defenses (e.g., efficiencies, failing firm defense)
- Trump administration's priorities in enforcing the Guidelines
- Recent agency enforcement actions and litigation interpreting the revised Guidelines
- Key takeaways and practical considerations
- Changing Guidelines and their impact on courts' views and decisions
- Future of the new Guidelines
Benefits
The panel will review these and other key issues:
- What was the reasoning behind the changes to the Merger Guidelines?
- What are the 13 separate guidelines that are used in determining whether a transaction is potentially anticompetitive?
- How do the current Merger Guidelines reflect the government's enforcement priorities?
- How should practitioners advise clients considering M&A activity in light of these Guidelines and the latest enforcement activity and litigation since their effective date?
Faculty
Gregory S. Morrison
Counsel
Davis Polk & Wardwell
Mr. Morrison advises clients on antitrust M&A, government investigations and litigation. He assists clients in... | Read More
Mr. Morrison advises clients on antitrust M&A, government investigations and litigation. He assists clients in navigating the U.S. merger control regime from a substantive and strategic perspective and in complying with U.S. and global merger control obligations. Mr. Morrison also represents clients in non-merger conduct investigations by the antitrust agencies, including cartel matters, and in antitrust civil litigations. He routinely represents clients in matters before the U.S. Department of Justice and Federal Trade Commission, as well as in antitrust litigation before courts in a variety of U.S. jurisdictions.
Close
Stephanie E. (Stevie) Pearl
Of Counsel
Gibson, Dunn & Crutcher
Ms. Pearl’s practice focuses on antitrust litigation, merger review, and government investigations. She brings a... | Read More
Ms. Pearl’s practice focuses on antitrust litigation, merger review, and government investigations. She brings a unique perspective from her recent tenure as a trial attorney in the U.S. Department of Justice’s Antitrust Division, where she led complex investigations and litigated high-profile merger cases in the Transportation, Energy & Agriculture Section. Prior to her government service, Ms. Pearl was an associate in the firm’s the Antitrust and Competition Practice Group, where she advised clients on antitrust compliance, merger clearance, and litigation strategy across a broad spectrum of industries, including healthcare, energy, digital platforms, and consumer products. Her work included providing strategic antitrust counsel and representing clients in federal court as well as before the DOJ and the FTC.
CloseEarly Discount (through 08/29/25)
Cannot Attend September 24?
Early Discount (through 08/29/25)
You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. Strafford will process CLE credit for one person on each recording. All formats include course handouts.