A Dawning Era for Vertical Mergers? The New Vertical Merger Guidelines, the FTC’s Challenge to Illumina/Grail, and the Future of Enforcement

The antitrust agencies’ approach to vertical mergers has been the subject of significant debate — with potential changes still on the horizon. Last summer, the Department of Justice and the Federal Trade Commission issued long-awaited Vertical Merger Guidelines, the first update since 1984. The FTC’s challenge to the Illumina/Grail merger — which sits at the intersection of healthcare and developing technology issues — is currently scheduled to begin an administrative trial next month. This would mark the first vertical merger litigation under the new Vertical Merger Guidelines, and one of the first since the DOJ’s loss in AT&T/Time Warner. Our panel of experts discusses the recent developments in the vertical merger space, the theories at issue in the Illumina/Grail case, and implications for enforcement activity over the coming months and years.

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As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker.

Steve Cernak

Partner

Bona Law PC


Michael Kades

Director, Markets and Competition Policy

Equitable Growth


Bruce Kobayashi

Professor of Law

Antonin Scalia Law School, George Mason University


Thomas Lambert

Wall Chair in Corporate Law and Governance and Professor of Law

University of Missouri School of Law


Taylor Owings

Partner

Baker Botts L.L.P.


Elyse Dorsey

Adjunct Professor

Antonin Scalia Law School, George Mason University


Antitrust & Consumer Protection

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