General
China affirms application of merger control to VIE structures with gun-jumping penalties
European Commission positive about implementation of Damages Directive
Digital/TMT
Facebook hit with U.S. antitrust suits over past deals and ongoing conduct
ECJ annulment of Commission’s Paramount pay-TV decision gives third parties more weight in the commitments process
Energy & Infrastructure
Life Sciences
General
U.S. FTC merger enforcement gathers pace
This month we have seen a flurry of activity on the merger control front from the U.S. Federal Trade Commission (FTC). Grabbing the headlines is the announcement that the FTC (and 48 attorneys general) have filed suit against Facebook, alleging that the firm breached antitrust laws through acquisitions and other conduct – see below for a separate article which sets out what you need to know.
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On December 8, 2020, Judge Gerald Pappert in the US District Court for the Eastern District of Pennsylvania denied a request from the Federal Trade Commission (FTC) and Pennsylvania attorney general (AG) to preliminarily enjoin a proposed merger between Thomas Jefferson University (TJU) and Albert Einstein Healthcare Network (Einstein). The case was widely watched as the FTC sought to show that the combination of these two urban hospital systems would harm consumers.
Background
TJU and Einstein are two hospitals largely based in Philadelphia and neighboring counties that provide general acute care (GAC) and rehabilitative services, among other offerings. The FTC and Pennsylvania AG challenged the merger on the basis that the consolidated entity would harm competition. A central question at the hearing was whether the government could establish the geographic boundaries of the relevant markets it claimed would be harmed.