Articles Posted in DOJ

DOJ Allows a JV of 24 Banks to Create and Operate a New Payment System
Doyle, Barlow & Mazard PLLC

On September 21, 2017, the DOJ’s Antitrust Division issued a business letter stating that it would not challenge a proposal by The Clearing House Payments Company LLC (“TCH”), a joint venture of 24 U.S. banks, to create and operate a new payment system that will enable the real-time transfer of funds between depository institutions, at…

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DOJ Forces Divestiture to Protect Organic Milk Market
Doyle, Barlow & Mazard PLLC

On April 3, 2017, the Department of Justice (“DOJ”) announced that that it forced Danone to divest its Stonyfield Farms business in order for Danone to proceed with its $12.5 billion acquisition of WhiteWave. Prior to the merger, Danone did not produce or sell organic milk in the United States, however, it produced and sold…

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DOJ Settles DirecTV Lawsuit Regarding Illegal Information Sharing
Doyle, Barlow & Mazard PLLC

On March 23, 2017, the U.S. Department of Justice (“DOJ”) announced that it reached a settlement that will prohibit DIRECTV Group Holdings, LLC (“DirecTV”) and its parent corporation, AT&T Inc. (“AT&T”), from illegally sharing confidential, forward-looking information with competitors. On November 2, 2016, the DOJ’s Antitrust Division filed suit alleging that DirecTV was the ringleader…

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Anthem and DOJ Head to the D.C. Circuit
Doyle, Barlow & Mazard PLLC

Anthem Cigna Merger Blocked February 8, 2017 On February 8, 2017, Judge Jackson blocked Anthem Inc.’s (“Anthem”) acquisition of Cigna Corp. (“Cigna”) finding that the merger would likely harm competition.  The district court wholly refuted the parties’ argument that efficiencies would be pro-consumer and a counter-weight to potential competitive problems.  U.S. District Court Judge Amy…

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Duke Jumps the HSR Gun: Gets Slapped With $600,000 Penalty
Doyle, Barlow & Mazard PLLC

On January 18, 2017, the Justice Department’s Antitrust Division (“Antitrust Division”) announced a $600,000 civil settlement against Duke Energy for illegal “gun-jumping” violations of the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”). The HSR Act requires that parties to certain acquisitions notify the antitrust enforcement agencies and observe a waiting period before consummating the…

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Will President Trump Interfere With Antitrust Reviews?
Doyle, Barlow & Mazard PLLC

About a week before taking office, President-elect Trump had two high level meetings with CEOs of companies that are involved in significant acquisitions currently under antitrust review by the Department of Justice’s Antitrust Division.  The meetings raise questions about the integrity and independence of the DOJ’s merger reviews going forward under a Trump administration.  AT&T/Time…

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Senator Grassley Calls For Hearings on Consolidation of Seed and Ag Chemical Industry
Doyle, Barlow & Mazard PLLC

On August 23, 2016, Senate Judiciary Committee Chairman Chuck Grassley announced a hearing on the increasing consolidation within the seed and chemical industry. The hearing will be held in late September.  Senator Grassley said that “The seed and chemical industries are critical to agriculture and the nation’s economy, and Iowans are concerned that this sudden…

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Senator Grassley Urging the FTC and DOJ to Coordinate Reviews of Seed Mergers
Doyle, Barlow & Mazard PLLC

On August 16, 2016, Senator Charles Grassley (R-IA), chairman of the Senate Judiciary Committee, wrote a letter to FTC Chairwoman Edith Ramirez and DOJ Antitrust Division Head, Renata Hesse in which he expressed concerns regarding two major mergers in agricultural technology and seeds that could potentially hurt competition in the industry and make it harder…

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DOJ Sues to Block Health Insurance Mergers
Doyle, Barlow & Mazard PLLC

On July 21, the U.S. Department of Justice’s Department of Justice (“DOJ”) and several state attorneys general filed two lawsuits, challenging two major health insurer mergers: (1) Anthem, Inc.’s (“Anthem”) proposed $48.4 billion purchase of Cigna Corporation (“Cigna”) and (2) Aetna Inc.’s (“Aetna”) planned $37 billion acquisition of Humana Inc. (“Humana”). While the cases are substantially different, both…

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DOJ NEEDS TO STEP UP TO THE PLATE TO PROTECT BEER CONSUMERS
Doyle, Barlow & Mazard PLLC

Antitrust enforcement has become front and center in the American political economic debate.  The Democratic Platform included a plank for greater antitrust enforcement for the first time since 1968.  There is increasing evidence that large mega-mergers have cost consumers dearly in the pocket book, increased economic inequality and dampened economic opportunity.  In a recent speech…

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