The pace of strategic deal-making has electrified corporate America over the past year and has kept antitrust enforcers on their toes in analysing the potential competitive effects of these deals. In FY 2014, the US Department of Justice (DOJ) and the Federal Trade Commission (FTC) reviewed 1,663 HSR reportable transactions, a 25 per cent increase over the previous year and the highest volume of reportable deals since 2008.1 Overall, the surge in M&A activity continues to be driven by a mammoth wave of high-tech and pharmaceutical deals, many of which have garnered significant antitrust scrutiny.
Combinations in high-tech industries – those that employ the most advanced, cutting-edge technology – continue to fly high on the antitrust enforcement radar of the DOJ and the FTC. Recent statistics reveal that high-tech deals, including pharmaceuticals, medical devices and other transformative technologies, have commanded vast agency resources and outsized enforcement, as compared to other industries.
Cooley attorneys – Jacqueline Grise, Tanisha James and Howard Morse – are proud to publish the US: Technology Mergers chapter to the 2016 edition of The Antitrust Review of the Americas.