If your company’s proposed merger is subject to an investigation by U.S. or EU authorities, the likelihood the deal will result in a complaint or abandonment is at a 10-year high in both jurisdictions. In the states, an uptick of DOJ and FTC activity is expected in 2022.
Fast Facts
United States
- The number of significant U.S. merger investigations concluded in the first year of the Biden administration was in line with the average observed during the Trump administration.
- More than 37 percent of significant investigations resulted in a complaint or an abandoned transaction, the highest observed since DAMITT launched in 2011—demonstrating increased FTC and DOJ skepticism of merger remedies.
- The average duration in 2021 remained around 12 months, matching the average duration in 2020.
- We expect to see a substantial uptick in significant U.S. merger investigations concluding in 2022.
European Union
- Despite recording the second highest number of merger filings since 1990, the EU Commission concluded only 14 significant merger investigations in 2021, the fewest observed over the past 10 years.
- Twenty-one percent of these significant investigations resulted in the transaction being withdrawn or blocked, the highest ratio observed since DAMITT launched in 2011.
- The average duration of Phase II…
