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Europeans And Feds Overhaul Trans-Atlantic Antitrust Enforcement

Posted  11/1/11
October was a busy month for European and U.S. antitrust enforcers, who revised “best practices” aimed at enhancing the efficiency of antitrust investigations on both sides of the Atlantic. First, on October 14, 2011, the U.S. Department of Justice, the Federal Trade Commission and the European Commission (the “EC”) issued an updated set of “best practices” that they use to coordinate merger reviews...

Kinder Morgan And El Paso May Need To Cut Pipeline Networks To Save Massive Energy Merger

Posted  10/26/11
In a transaction valued at $21.1 billion – one of the largest energy deals in history – Kinder Morgan, Inc. has announced a deal to purchase the El Paso Corporation. The two corporations are large “midstream energy” companies that process and transport oil and gas.  If the deal is approved by shareholders and the FTC, Kinder Morgan will be the largest midstream energy company in North America, controlling...

Canadians Release New Merger Guidelines

Posted  10/17/11
Canada’s Competition Bureau has released final revisions to its Merger Enforcement Guidelines. The Guidelines describe how the Competition Bureau will analyze merger transactions. The new Guidelines were issued on October 6, 2011, after the Bureau held consultations during the last two years with foreign competition agencies and throughout Canada.  The changes are the first revisions to the Guidelines since...

Europeans Tightening Oversight Of Commodities Markets

Posted  10/5/11
The European Commission is expected to unveil proposed legislation in the coming weeks designed to curb speculation in commodities trading, which has been blamed for sharp increases in energy and food prices. A draft of the Commission’s proposed revisions to the EU’s 2004 Markets in Financial Instruments Directive (“MiFID”) obtained by some news outlets would require “that all trading venues on which...

Bridgestone Pleads Guilty To Hosing Bids For Marine Hose

Posted  10/3/11
The U.S. Department of Justice has announced that Tokyo based manufacturer Bridgestone Corp. has agreed to plead guilty to rigging bids and making corrupt payments to government officials in Latin America related to the sale of marine hose and other industrial products. As part of the plea bargain struck with the Department of Justice, Bridgestone is pleading guilty to violations of the Foreign Corrupt Practices...

U.K. Shoots Down Sky’s Control Over Pay TV Movie Market

Posted  09/8/11
The U.K.’s Competition Commission has announced that it has provisionally found that British Sky Broadcasting’s control over the pay TV movie market is restricting competition among rivals, leading to higher prices and fewer choices for consumers. The investigation, which the Commission began in August 2010, followed a three-year study of the pay TV market by the U.K.’s communications regulator,...

Big Banks Accused Of Excluding Competition In Setting European Payments Standards

Posted  08/26/11
Banks in the European Payments Council (EPC) are being probed by the antitrust department of the European Commission (EC) as a result of Payment Network AG’s complaint that it was locked out of the process to set the standard for streamlining payments systems in Europe. EPC members include banks such as Lloyds TSB, Citibank, Barclays, UBS, HSBC Holdings Plc and Deutsche Bank AG. The EPC is the...

IBM Not Out Of The Regulatory Woods Despite Withdrawal Of Emulator Complaints

Posted  08/24/11
Although three rivals of IBM have dropped their complaints that IBM illegally tied its mainframe hardware to its operating system, the computer giant is not out of regulatory woods yet. Both the U.S. Department of Justice (DOJ) and the European Commission maintain ongoing antitrust investigations – sparked by the complaints – into a possible monopoly IBM holds in the mainframe computer market. In a filing...

Europeans Open Antitrust Probe Of Luxury Watchmakers

Posted  08/18/11
The European Commission is investigating whether luxury watch manufacturers have suppressed competition by refusing to provide spare parts to independent repairers. While the Commission has not identified any specific companies, the Swatch Group, parent company of such brands as Omega and Breguet, has identified itself as one of the subjects.  Swatch has said it is confident regarding the outcome of the...

Pharmaceutical Benefits Managers’ Merger Could Result In Prescription For Heavy Antitrust Scrutiny

Posted  07/29/11
A proposed merger of Express Scripts and Medco, two of the largest pharmaceutical benefits managers (“PBMs”) in the United States, is likely to draw a prescription for significant antitrust scrutiny from federal regulators. PBMs contract with health insurers and employers to manage health insurance plan pharmaceutical benefits, among other ways by negotiating with pharmaceutical manufacturers and pharmacies to...
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