FTC M&A Policies and the New Administration

Dealmakers are optimistic that Donald Trump’s pick for the FTC, Andrew Ferguson, will adopt a far less aggressive approach to M&A than the current chair, Lina Khan.

Ferguson, who does not require Senate confirmation, has expressed intention to reverse Khan’s current “anti-business agenda.” With Trump having also selected Mark Meador as a commissioner, it will likely give Republicans a majority at the FTC, meaning Ferguson will have the support needed to implement his policies.

What does this mean going forward?

• Increase in dealmaking activity: A reversal of stringent merger policies promises to make the FTC more favorable to business, leading to a meaningful increase in deal activity. Some dealmakers predict that deal volume in 2025 could exceed the past 10-year average due to this shift.
• Continued Big Tech scrutiny: Ferguson is expected to continue scrutinizing Big Tech, but for different reasons than Khan, focusing on alleged efforts to silence conservative views rather than antitrust issues and market dominance.
• Compliance is still essential: Despite federal changes, companies must recognize that state consumer protection agencies and other stakeholders remain active. Compliance and risk management strategies are essential, along with staying updated on regulatory and legal developments.

Whether you have planned M&A over the course of next year or further out, keeping a close eye on the shifting antitrust regulatory landscape will be an important element of a successful M&A strategy.

Our weekly newsletter is published to share updates and insights from part of our team of Private Equity and M&A legal talent. This edition is curated by Greg O'Shaughnessy.

Insights

Dealmakers see return of more, bigger megadeals in 2025

• Top Wall Street CEOs and dealmakers are anticipating an uptick in larger mergers and acquisitions under the incoming Trump administration, after such megadeals evaporated this year due to a harsher regulatory environment.

Hot Topics in Sports Investments

• Leaders at the intersection of the sports and investment industries outline the growing trends and investment opportunities surrounding investments in sports.

Acquiring companies offer bonuses to M&A pros

• The recent surge in acquisitions puts a premium on recognizing the heavy workload of employees who help execute the deals.

This newsletter is intended as an information source for clients and friends of Nixon Peabody LLP. The content should not be construed as legal advice, and readers should not act upon information in this publication without professional counsel. This material may be considered advertising under certain rules of professional conduct. Copyright ? 2024 Nixon Peabody LLP. All rights reserved.