July 14, 2016

ValueAct Settles for Record HSR Fine

Activist investor ValueAct Capital agreed to pay an $11 million fine and also agreed to injunctive relief to settle the DOJ’s allegations that it violated the HSR Act in connection with its acquisition of over $2.5 billion of voting securities of Halliburton and Baker Hughes after the two companies announced their (now abandoned) merger in 2014. ValueAct initially contested the DOJ’s claim, arguing that its actions were exempt under the HSR Investment-Only exemption. With this record settlement, the DOJ and FTC once again affirmed that they will read this HSR exemption very narrowly. Investors must tread carefully when relying on the exemption as it applies only when the investor’s sole intent in acquiring the shares is passive.

Categories: US Mergers

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June 13, 2016

Goeteyn and Rawnsley Author Article on EU Damages Directive and Access to Evidence for Antitrust Damages Actions

Partner Geert Goeteyn (Brussels–Antitrust) and counsel Collette Rawnsley (London–Antitrust) have authored an article in The Strategic View – Competition Litigation 2016 on “The EU Damages Directive and Access to Evidence for Antitrust Damages Actions.” In this article, the authors consider how the EU Damages Directive seeks to provide victims of competition law infringements with easier access to evidence for the purposes of private damages actions, while preserving the effectiveness of public enforcement tools.

Categories: EU Antitrust Basics, EU Cartels, EU Distribution, EU Enforcement

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May 26, 2016

Antitrust Annual Report Surveys Recent Antitrust Developments

In its 2016 Annual Report, Shearman & Sterling's Antitrust Group discusses 19 major trends in antitrust law worldwide in merger control, cartels, compliance, unilateral conduct, antitrust litigation, and state aid.

Categories: EU Antitrust Basics, EU Cartels, EU Distribution, EU Enforcement, EU Mergers, US Antitrust Basics, US Cartels, US Distribution, US Enforcement, US Mergers

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