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Mergers and Acquisitions Regulation White Collar Crime

The FTC and DOJ’s New Guidelines Promise Sharper Scrutiny of Mergers

From loosened structural presumptions to unconventional theories of harm such as “ecosystem competition” to consideration of a merger’s effects on outside markets, we review some of the most noteworthy changes in the new Guidelines.

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Following months of anticipation, the Federal Trade Commission (FTC) and Antitrust Division of the Department of Justice (DOJ) unveiled their new Merger Guidelines (the Guidelines) on Dec. 18, 2023. More than 30,000 stakeholders offered input on proposed changes to the Guidelines, which were previously updated in 2010. While the agencies made some modifications in response to public comment, the core elements of the final Guidelines are consistent with the draft version released in July 2023.

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