An Evolving Antitrust Landscape

Antitrust is back in the headlines, following House passage of a trio of bills designed to strengthen enforcement of anticompetitive conduct. Set to mark the first congressional expansion of the antitrust laws in decades, the bipartisan package would send more money to federal enforcement agencies, give state attorneys general more freedom to determine where they try their antitrust cases, and require that companies seeking a merger disclose subsidies from foreign governments.

The bills reflect a shift toward a more complex antitrust landscape. But the shift didn’t happen overnight; nor has it been confined to Capitol Hill. Both in the regulatory arena and in the courts, several major antitrust developments have taken shape in recent months, each likely to have implications for M&A, competition, and the corporate world more generally.

Antitrust Developments: A Wide-Ranging Look

Here at Vinson & Elkins, our antitrust team has been closely examining these developments, assessing their potential impacts and advising clients on how best to react. Below, we highlight seven of our key focus areas in this space:

• ESG. In a white paper on the intersection of ESG and antitrust law , we survey the antitrust risks associated with multi-firm ESG efforts and how firms might work to manage those risks.
• The metaverse and tech ecosystems. In analyzing a Federal Trade Commission (FTC) suit to block Meta Platforms — Facebook’s parent company — from acquiring VR app developer Within Unlimited, we explain the Commission’s novel case and what its complaint means for future merger reviews.
• Shifting review standards. In examining the Department of Justice suit to block Swedish conglomerate ASSA ABLOY from acquiring a division of Spectrum Brands — along with a speech from the U.S. Assistant Attorney General — we outline the department’s shifting standards for merger reviews and the increased risks for companies during the merger-review process.
• Compulsory process. In reviewing the FTC’s approval of two omnibus resolutions , we explore how they allow for more expansive investigations into anticompetitive conduct, granting staff license to advance investigations through compulsory process without Commission approval.
• Monopolization. In articles and interviews at multiple outlets , we identify the key antitrust considerations stemming from the Department of Justice’s investigation into the PGA Tour and LIV Golf’s complaint and describe how they could shape the antitrust environment going forward.

Deeper Dives

• Cartel behavior. In a primer and two videos, we share our deep knowledge of cartel law , along with our insights from decades of defending clients in criminal investigations and litigating civil cases .
• Energy and chemicals. In a thorough report , we detail recent federal antitrust enforcement in the energy and chemical industries, state and private antitrust litigation developments, and changes in merger and non-merger enforcement policy more broadly.

A Trusted Team

Deeply dedicated to the practice , our multinational team of talented, experienced attorneys has been heavily engaged in the most intricate, sensitive issues of competition and antitrust law, earning wide acclaim for the breadth and depth of its work and the many victories it has secured on clients’ behalf. A new profile , featuring some of the team’s leading legal eagles, highlights the team and its work in greater detail.

Recent months have demonstrated increasing complexity in the antitrust landscape. And should the House’s antitrust reform package become law, as many analysts project, companies can expect this trend to continue. Even so, questions and concerns are sure to abound, especially as they relate to compliance. We look forward to guiding our clients through this evolving landscape as they prepare themselves to adapt.