Coverage

Feinstein denies FTC divestiture failures

Feinstein denies FTC divestiture failures

29 September 2017

The former director of the Federal Trade Commission’s bureau of competition has defended the agency’s actions in three recent mergers in which divestiture buyers rapidly gave up on operating the businesses, challenging other antitrust lawyers to say what the government should have done differently.

US DOJ: merger counsel should highlight overlaps

US DOJ: merger counsel should highlight overlaps

28 September 2017

The head of civil enforcement at the US Department of Justice’s antitrust division said today that it might “behoove” counsel for merging companies to alert the antitrust authorities to obvious product overlaps.

McSweeny: privacy competition standard could have sunk Facebook/WhatsApp

McSweeny: privacy competition standard could have sunk Facebook/WhatsApp

29 September 2017

Federal Trade Commission member Terrell McSweeny has said the merger between Facebook and WhatsApp may have failed if the commission had deployed a data privacy competition standard.

DG Comp official defends Dow/Dupont remedy

DG Comp official defends Dow/Dupont remedy

29 September 2017

A senior official at the European Commission’s Directorate-General for Competition said critics of the enforcer’s decision to require divestiture of research and development assets in the Dow/DuPont merger did not understand it.

CMA enforcement head: shift in competition sentiment is broader than Brexit

CMA enforcement head: shift in competition sentiment is broader than Brexit

02 October 2017

“Brexit is only trivially related” to the growing interest in adding public interest criteria to merger reviews, the executive director for enforcement at the UK’s Competition and Markets Authority has said.

Public interest in merger reviews

Public interest in merger reviews

19 December 2017

At the 2017 GCR Live New York conference in September, practitioners discussed merger reviews by the Committee on Foreign Investment in the United States, which determines if such investments are compatible with the US national interest, and by China’s Ministry of Commerce, which includes public interest in its analysis. During a panel on public interest considerations in merger review, Shawn Cooley, the former Director of Foreign Investment Risk Management at the US Department of Homeland Security; Calvin Goldman QC, the former head of Canada’s Competition Bureau; Ilene Knable Gotts, a top mergers adviser; and Susan Ning, who consulted on the creation of China’s Anti-Monopoly Law, talked about how to handle cross-border deals.

Chairs

Nick Levy

Cleary Gottlieb Steen & Hamilton, Brussels and London

Nicholas Levy’s practice focuses on EU and UK antitrust law. He has extensive experience in notifying mergers and joint ventures under the EU Merger Regulation, coordinating the notification of international transactions, and advising on all aspects of antitrust law, including anti-cartel enforcement, collaborative arrangements, vertical agreements and unilateral conduct.

Christine Varney

Cravath, Swaine & Moore, New York

Christine Varney is a partner in Cravath’s Litigation Department and serves as the Chair of the Firm’s Antitrust practice. Ms. Varney has been widely recognised as one of the leading antitrust lawyers in the United States in both private practice and in government service, and she is the only person to have served as both the U.S. Assistant Attorney General for Antitrust and as a Commissioner of the Federal Trade Commission.

Keynote Speakers

Paul Csiszár

Director of Basic Industries, Manufacturing and Agriculture, DG Competition, European Commission, Brussels

After graduating from ELTE School of Law of Budapest, Paul Csiszár studied international comparative law and earned a second Juris Doctorate at Loyola Law School in the United States. Following his admission to the Bar in 1986 in California he practiced as a corporate, securities and M&A lawyer in the US and then from 1997 in Central Europe with the international law firm of Squire Sanders until 2003 when he joined the public sector. Currently Mr Csiszár serves as Director of "Basic Industries, Manufacturing and Agriculture" at the Directorate General for Competition of the European Commission.

Patricia Brink

Director of Civil Enforcement, Antitrust Division, US Department of Justice, Washington, DC

Terrell McSweeny

Commissioner, Federal Trade Commission, Washington, DC

Terrell McSweeny was sworn in as a Commissioner of the Federal Trade Commission on 28 April 2014, to a term that expires in September 2017. Prior to joining the Commission, McSweeny served as Chief Counsel for Competition Policy and Intergovernmental Relations for the U.S. Department of Justice Antitrust Division.

Speakers

Melanie Aitken

Bennett Jones, Washington, DC

Kevin Arquit

Weil, Gotshal & Manges, New York

Shawn Cooley

Freshfields Bruckhaus Deringer, Washington, DC

Margaret Segall D'Amico

Cravath, Swaine & Moore, New York

Deborah Feinstein

Arnold & Porter Kaye Scholer, Washington, DC

John Fingleton

CEO, Fingleton Associates, London

Calvin Goldman QC

Goodmans, Toronto

Ilene Knable Gotts

Wachtell, Lipton, Rosen & Katz, New York

Michael Grenfell

Executive Director, Enforcement, Competition and Markets Authority (CMA), London

Kostis Hatzitaskos

Cornerstone Research, Chicago

David Hull

Van Bael & Bellis, Brussels

Joseph Matelis

Sullivan & Cromwell, Washington, DC

Susan Ning

King & Wood Mallesons, Beijing and Sanya

Paula Riedel

Kirkland & Ellis, London

Deirdre Taylor

Gibson, Dunn & Crutcher, London

Keith Waehrer

Bates White, Washington, DC

Mark Whitener

Senior Counsel, Competition Law & Policy, General Electric, Washington, DC

Programme

8.00: Welcome coffee and registration

8.30: Chairs' opening remarks

Nick Levy, Cleary Gottlieb Steen & Hamilton, Brussels and London
Margaret Segall D'Amico, Cravath, Swaine & Moore, New York

8.45: In conversation with the US Department of Justice

Andrew Finch, Acting Assistant Attorney General, Antitrust Division, US Department of Justice, Washington, DC

Interviewer:
Margaret Segall D'Amico, Cravath, Swaine & Moore, New York

9.45: When the crystal ball cracks: Why are divestitures failing?

The US has seen three failed divestitures in less than 4 years: Hertz/Dollar Thrifty, Albertsons/Safeway, Dollar Tree/Family Dollar

  • What's missing in the FTC's analysis? Does the agency need to rethink its methodology when determining which divestiture buyers will succeed? Alternatively (as former FTC competition bureau head Deborah Feinstein has suggested), is this a problem of collapsing brick-and-mortar retail in the US economy due to consolidation and online sales?
  • Is this solely a problem in the US? How are other agencies, especially in Canada, dealing with this? (There has been considerable retail-level consolidation in Canada over the past few years, including among supermarkets).
  • Should such failures matter so long as the assets divested to a buyer that then goes bankrupt or has to give up on them remain in the market? 

Moderator:
Kevin Arquit, Weil, Gotshal & Manges, New York

Panel:
Melanie Aitken, Bennett Jones, Washington, DC
Deborah Feinstein, Arnold & Porter Kaye Scholer, Washington, DC
Kostis Hatzitaskos, Cornerstone Research, Chicago
Keith Waehrer, Bates White, Washington, DC

11.00: Coffee break

11.25: Public interest considerations in merger review

Major global mergers increasingly face both antitrust and foreign investment reviews. As governments in North America and Europe speak to protectionism, populism, jobs and other industrial policy and national interests in their economic policies, the inclusion of public interest considerations in competition enforcement is likely to increase well beyond national security issues. This panel will offer guidance on how to plan for and navigate challenges arising from mergers that may see concurrent competition and foreign investment/public interest reviews. The discussion will include:

  • The causes of this evolving trend;
  • The scope of anticipated public interest considerations in significant merger cases across a number of jurisdictions;
  • The degree of procedural and substantive cooperation with competition reviews within and between jurisdictions;
  • The degree to which guidelines and other agency insights may alleviate uncertainty in merger planning; and
  • The question of which authority should decide public interest considerations: the competition agency or a separate public body.

Moderator:
Calvin Goldman QC, Goodmans, Toronto

Panel:
Shawn Cooley, Freshfields Bruckhaus Deringer, Washington, DC
Ilene Knable Gotts, Wachtell, Lipton, Rosen & Katz, New York
Susan Ning, King & Wood Mallesons, Beijing and Sanya
Mark Whitener, Senior Counsel, Competition Law & Policy, General Electric, Washington, DC

12.40: Networking lunch

13.45: EU speaker

Paul Csiszár, Director of Basic Industries, Manufacturing and Agriculture, DG Competition, European Commission, Brussels

Interviewer:
David Hull, Van Bael & Bellis, Brussels

14.45: Coffee break

15.15: Brexit - Implications for litigation, merger control and antitrust

Brexit promises to upend competition law enforcement in the UK with significant and far-reaching implications for merger control, antitrust, and civil litigation. Our panel of UK experts will endeavour to predict Brexit's effects on antitrust policy and practice, and examine the potential consequences for companies and their counsel.

Moderator:
Nick Levy, Cleary Gottlieb Steen & Hamilton, Brussels and London  

Panel:
John Fingleton, CEO, Fingleton Associates, London
Michael Grenfell, Executive Director, Enforcement, Competition and Markets Authority (CMA), London
Paula Riedel, Kirkland & Ellis, London
Deirdre Taylor, Gibson, Dunn & Crutcher, London

16.30: An interview with Terrell McSweeny

Terrell McSweeny, Commissioner, Federal Trade Commission, Washington, DC

Interviewer:
Joseph Matelis, Sullivan & Cromwell, Washington, DC

17.15: Chairs' closing remarks

Nick Levy, Cleary Gottlieb Steen & Hamilton, Brussels and London
Margaret Segall D'Amico, Cravath, Swaine & Moore, New York

17.30 onwards: All delegates are invited to attend a drinks reception kindly hosted by Cravath, Swaine & Moore

Venue

Worldwide Plaza, 825 Eighth Avenue, New York, NY 10019-7475, USA

Testimonials

  • "Very interesting, accessible"

  • "It was all fantastic!"

    Nicholas Peterson, Cleary Gottlieb Steen & Hamilton

  • "Very good. Big-name, well-prepared speakers."

    Jun Feng, Cleary Gottlieb Steen & Hamilton

     

Ticket Prices

Private Practitioner
Type Price Until
Associate Rate $400 28 September
Early $600 15 September 2017
Standard $700 28 September 2017

 

In-house/Governmental
Complimentary In-house/Governmental registration available