HSR Form Changes: Navigating the New Landscape

The antitrust landscape in both the EU and U.S. is rapidly evolving as legacy legal frameworks, including Article 102, are being adapted to address digital platform dominance and new forms of monopolistic behavior. With the arrival of Teresa Ribera to the European Commission and a new U.S. administration, enforcement priorities are shifting toward digital markets, with a particular emphasis on speedy investigations, compliance and innovative theories of harm that go beyond traditional price and output concerns. Host Bill Batchelor unpacks the latest developments with Skadden colleagues Michael Frese and Justine Haimi. The discussion highlights recent high-profile cases involving Google, Apple and Amazon, examining the use of commitment decisions and the growing influence of the Digital Markets Act. 💡 Meet Your Host 💡Name: Bill BatchelorTitle: Partner, Antitrust/CompetitionSpecialty: Bill focuses his practice on conduct investigations, including abuse of dominance, cartels and vertical agreements.Connect: LinkedIn💡 Featured Guests 💡Name: Michael FreseWhat he does: Michael has more than 10 years of experience advising companies on all aspects of EU competition law and various areas of EU and national market regulation, including the Digital Markets Act and Digital Services Act.Organization: SkaddenWords of wisdom: “In August 2024, the commission issued draft guidelines and exclusionary abuses. These guidelines were meant to help undertakings self-assess their practices, but also to provide guidance to courts. One is hard pressed to find clear guidance in these draft guidelines other than the notion that the commission should have wide discretion.”Connect: LinkedIn Name: Justine Haimi  What she does: Justine represents clients in connection with the antitrust aspects of litigation, mergers and acquisitions and advisory matters. She has worked with clients across a diverse range of industries, including health care, medical devices, insurance, consumer goods, telecommunications, energy and pharmaceuticals.Organization: SkaddenWords of wisdom: “President Trump has appointed Andrew Ferguson as chairman of the FTC and Gail Slater as the assistant attorney general responsible for antitrust at the DOJ. Both agency heads have stated that they plan to continue investigating big tech and more vigorously crack down on monopolies, but we may also expect to see some shifts in enforcement from the prior...

Antitrust premerger notification just became more complex. The Hart-Scott-Rodino (HSR) Act premerger form underwent substantial changes in February 2025, requiring significantly more information from merging parties. Host Rita Sinkfield Belin and her Skadden colleagues Joe Rancour and Joe Ciani-Dausch offer insights on the new requirements. The discussion highlights the 10 most notable changes, explores how these updates are being implemented and provides initial observations on what may lie ahead.💡 Meet Your Host 💡Name: Rita Sinkfield BelinTitle: Counsel, Antitrust/CompetitionSpecialty: Rita advises on the Hart-Scott-Rodino (HSR) Act review process required to obtain federal antitrust approval for various types of acquisitions, including large, complex M&amp;A and joint venture transactions.Connect: LinkedIn💡 Featured Guests 💡Name: Joe Ciani-DauschWhat he does: Joe represents clients in antitrust aspects of mergers and acquisitions, litigation at the trial and appellate court levels, arbitration and counseling.Organization: SkaddenWords of wisdom: “The FTC itself estimated that it would take three times as much time on average to prepare the filing, even more in the case where there are overlaps between the parties. And, as we're preparing filings under the new rules, we're definitely seeing that that is, if anything, I think an underestimate.”Connect: LinkedIn&nbsp;Name: Joe RancourWhat he does: Joe represents clients in connection with antitrust aspects of mergers and acquisitions, investigations, counseling and litigation.Organization: SkaddenWords of wisdom: "Preparation and self-awareness are going to be the name of the game under the new regime. The aperture is widening in terms of what the government's going to see early in the process. And that doesn't mean that it's a cause for concern. It means that you have to know what's in your files."Connect: LinkedInConnect with Skadden☑️ Follow us on X and LinkedIn.☑️ Subscribe to Fierce Competition on <a...

Skadden antitrust partners Aurora Luoma and Bill Batchelor delve into the significant legislative and policy changes in U.K. competition law that took effect at the beginning of 2025. These changes, introduced by the Digital Market Competition and Consumers Act (DMCC), aim to address gaps in merger control and the digital markets regime while enhancing the enforcement capabilities of the Competition and Markets Authority (CMA).&nbsp;The conversation highlights changes in the CMA's jurisdiction, particularly in reviewing mergers; procedural changes, such as the ability to fast-track to Phase 2; and the introduction of the strategic market status (SMS) regime. Bill and Aurora also provide insights into the political dimensions influencing the CMA's approach and the potential impact of recent leadership changes within the agency.💡 Meet Your Hosts 💡Name: Aurora LuomaTitle: Partner, SkaddenSpecialty:&nbsp; Aurora has a broad practice covering key areas of competition law, including international merger control, antitrust investigations, state aid and sectoral regulation.Connect: LinkedInName: Bill BatchelorTitle: Partner, SkaddenSpecialty: Bill has 20 years of EU and U.K. competition law experience and focuses his practice on conduct investigations, including abuse of dominance, cartels and vertical agreements.&nbsp;Connect: LinkedIn&nbsp;Connect with Skadden☑️ Follow us on X and LinkedIn.☑️ Subscribe to Fierce Competition on Apple Podcasts, Spotify, or your favorite podcast app.Fierce Competition is a podcast by Skadden, Arps, Slate, Meagher &amp; Flom LLP, and Affiliates. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

Antitrust regulators throughout the world often use their authority to review transactions that fall below filing thresholds.&nbsp;Host Julia Zhu invites Skadden colleagues Joseph Rancour and Niels Baeten to discuss how these deals fit in the global regulatory picture. The three antitrust attorneys cover ways in which enforcement is carried out, how deal-makers know if their transactions are called in and what the future holds in this area. Joe describes the legal frameworks and enforcement activities in the U.S., Niels discusses the environment in the EU and U.K. — including implications of the European Court of Justice’s landmark ruling in Illumina/Grail — and Julia covers the view among regulators in the Asia-Pacific region.&nbsp;💡 Meet Your Host 💡Name: Julia ZhuTitle: Counsel, Antitrust/CompetitionSpecialty: Julia focuses on antitrust and competition law in China, Asia, the European Union and other jurisdictions.Connect: LinkedIn💡 Featured Guests 💡Name:&nbsp;Joseph RancourWhat he does: Joseph represents clients in connection with antitrust aspects of mergers and acquisitions, investigations, counseling and litigation.Organization: SkaddenWords of wisdom: “HSR-reportable deals are certainly going to be the focus of attention for the agencies, but they’ve shown time and again that in cases where non-reportable deals pose significant competition issues … they have no compunction about going after those deals, investigating them and even challenging them when the facts are right.”Connect: LinkedInName: Niels Baeten&nbsp;&nbsp;What he does: Niels covers all aspects of EU, international and Belgian competition law, including merger control, state aid and foreign subsidies, digital regulation, abuse of dominance, cartels and antitrust compliance issues.Organization: SkaddenWords of wisdom: “While the [European] Commission hasn’t yet decided which way to go to review such deals following...

Cartels may be as old as “Adam Smith’s smoke-filled room,” but in today’s world, they’re employing sophisticated tools like algorithms and AI. Enforcers continue to target price-fixing, bid-rigging and other potential antitrust violations.Skadden attorneys Bill Batchelor (partner, Brussels and London) and James Fredricks (partner, Washington, D.C.) highlight what’s changed 一 and what hasn’t 一 when it comes to cartel enforcement. They compare and contrast prosecutorial priorities and methods on both sides of the Atlantic. “Prevention,” as Bill explains, “still remains far, far better than the cure.” Tune in for their insight and guidance to corporate counsel who may be navigating these waters.💡 Meet Your Host 💡Name: Bill BatchelorWhat he does: Bill Batchelor has 20 years of EU and U.K. competition law experience and focuses his practice on conduct investigations, including abuse of dominance, cartels and vertical agreements. He regularly represents clients on EU and global merger control matters and litigation, and provides counsel on distribution and collaboration agreements in complex and highly regulated industries, such as health care, financial services, insurance, media and entertainment, and gambling, among others.Organization: SkaddenWords of wisdom: “We may have been slightly slow to pick up no-poach as an area of cartel interest, but we’re speeding up over in Europe. I think the main headlines in terms of the enforcement trends are: traditional cartels are still very much part of the enforcement focus.”Connect: LinkedIn💡 Featured Guests 💡Name: James FredricksWhat he does: James Fredricks counsels and defends clients on all types of antitrust investigations and prosecutions, as well as other complex and multijurisdictional actions brought by government enforcers. Previously, he served as an antitrust prosecutor at the U.S. Department of Justice for over two decades.Organization: SkaddenWords of wisdom: “Just a couple of weeks ago, a jury returned a verdict against a couple of defendants in Savannah, Georgia, for fixing the prices of concrete, rigging bids for concrete, allocating customers for concrete. The legal theory that underpinned it was about as straightforward of a case of per se conduct as they come. No one should think that the government has abandoned its traditional prosecutorial priorities in this space.”Connect: LinkedInConnect with Skadden☑️ Follow us on X &amp; LinkedIn.☑️ Subscribe to Fierce Competition on <a href="https://podcasts.apple.com/us/podcast/fierce-competition/id1710265588" rel="noopener...

In the United States, United Kingdom and the European Union, sports leagues — from soccer to golf to ice skating — are testing the boundaries of antitrust and competition laws.Skadden attorneys Bill Batchelor (partner, Brussels and London), Karen Lent (partner, New York) and Vikram Pandit (associate, Brussels) consider the intersection of sports and competition law on both sides of the Atlantic. Courts in all these jurisdictions are grappling with high-stakes questions concerning conspiracy, commercialism and college athletes. The cases that Bill, Karen and Vikram highlight involve a “super” soccer league in Europe, the NCAA’s amateurism model, salary caps for soccer in England and more. Tune in to hear their insights on&nbsp; how future rulings could change the game.💡 Meet Your Host 💡Name: Vikram Pandit&nbsp;&nbsp;Title: Associate, Antitrust/Competition at SkaddenSpecialty: Vikram is an associate in Skadden’s global Antitrust/Competition Group based in Brussels.&nbsp;Connect: LinkedIn💡 Featured Guests 💡Name: Bill BatchelorWhat he does: Bill Batchelor has 20 years of EU and U.K. competition law experience and focuses his practice on conduct investigations, including abuse of dominance, cartels and vertical agreements. He regularly represents clients on EU and global merger control matters and litigation, and provides counsel on distribution and collaboration agreements in complex and highly regulated industries, such as health care, financial services, insurance, media and entertainment, and gambling, among others.Organization: SkaddenWords of wisdom: “It's interesting to see that some of these cases going all the way to the highest court in Europe are from individual players. So, it's not big litigation between huge organizations. An individual player can go to their local labor tribunal and that tribunal can refer a question of law directly up to the ECJ, and that can be the source of a new ruling on competition law that can affect a block of 450 million people.”Connect: LinkedInName: Karen LentWhat she does: &nbsp;Karen Lent is co-head of Skadden’s sports practice and head of the New York office’s antitrust/competition practice, representing a wide variety of clients in antitrust, sports and other complex litigation matters at both the trial and appellate court levels. She also provides general antitrust counseling.Organization: SkaddenWords of wisdom: “Certainly the kinds of rules — how many players do you have on the field, how many referees, those sorts of things — are the rules of the game, and if...

In this episode of the "Fierce Competition" podcast, Skadden attorneys Tara Reinhart (partner, Washington, D.C.), Annie Villanueva Jeffers (partner, New York and Palo Alto) and Justine Haimi (counsel, New York) explore the Federal Trade Commission's (FTC’s) landmark ban on noncompete agreements. They discuss the FTC's rationale for the rule, as well as potential implications of the ban for businesses and enforcement challenges it may face. Tara, Annie and Justine point out the likelihood of a preliminary injunction against the rule due to ongoing litigation, and they highlight strategies for employers to navigate this new landscape. The episode emphasizes the FTC's increased focus on labor and worker protection, underscoring the need for companies to monitor the situation given its potential widespread impact on antitrust enforcement and employment practices. 💡 Meet Your Host 💡Name: Tara ReinhartTitle: Partner, Antitrust/Competition at SkaddenSpecialty: Tara is head of the Antitrust/Competition Group in Skadden’s Washington, D.C. office. She focuses on civil litigation and government investigations, with an emphasis on complex antitrust litigation and international cartel probes.Connect: LinkedIn💡 Featured Guests 💡Name: Annie Villanueva JeffersWhat she does: Annie is a partner in the Labor and Employment Law and Artificial Intelligence Groups at Skadden. She counsels clients on a broad range of employment matters, including employment-related issues arising out of U.S. and multinational corporate transactions, executive employment agreements, restrictive covenant agreements, reductions-in-force, discrimination charges and lawsuits, collective bargaining agreements and internal investigations.Organization: SkaddenWords of wisdom: On the FTC rule banning noncompetes: “It seems likely that this rule will be enjoined by the courts. I don't have a crystal ball, but that seems likely, in my opinion.”Connect: LinkedInName: Justine Haimi&nbsp;&nbsp;What she does: Justine is a counsel in the Antitrust/Competition Group at Skadden. She represents clients in connection with the antitrust aspects of litigation, mergers and acquisitions and advisory matters. She has worked with clients across a diverse range of industries, including health care, medical devices, insurance, consumer goods, telecommunications, energy and pharmaceuticals.Organization: SkaddenWords of wisdom: On the FTC rule banning noncompetes: “This rule is really a bombshell, but in retrospect, it was years in the making.”Connect: LinkedInConnect with Skadden☑️ Follow us on <a...

Illumina announced in December that it would divest GRAIL, the result of a merger challenge with many twists and turns both in the United States and in Europe.&nbsp;In this episode of the “Fierce Competition“ podcast, Skadden attorneys Julia York (partner, Washington, D.C.), Ingrid Vandenborre (partner, Brussels) and Michael Sheerin (counsel, New York) talk about the three-year Illumina-GRAIL saga. In particular, they focus on three key areas of the Fifth Circuit's ruling that appear most likely to impact future merger enforcement efforts in the United States.Tune in to hear about Illumina’s divestment of GRAIL, how it got there and what we can learn from this winding legal battle.💡 Meet Your Host 💡Name: Julia York&nbsp;Title: Partner, Antitrust/Competition at Skadden&nbsp;&nbsp;&nbsp;Specialty: Julia has represented numerous global corporations in various industries, including pharmaceuticals, telecommunications, energy and financial markets, in both litigation and transactional matters. She currently serves as the vice chair of the ABA Antitrust Section’s Antitrust Law Development Committee and regularly appears on discussion panels on antitrust issues relevant to the pharmaceutical industry. Julia also actively works on pro bono matters, including representing various amici curiae on briefs submitted to the U.S. Supreme Court and U.S. Circuit Courts of Appeal.Connect: LinkedIn💡 Featured Guests 💡Name: Ingrid Vandenborre&nbsp;&nbsp;&nbsp;What she does: Ingrid is the partner in charge of Skadden’s Brussels office and co-head of Skadden’s European Antitrust/Competition practice. Her practice focuses on EU and international merger control and competition law enforcement.&nbsp;&nbsp;&nbsp;Organization: SkaddenWords of wisdom: “It's kind of hopeful to hear that there's a limit to the nascent competition criteria.” &nbsp;Connect: LinkedInName: Michael Sheerin&nbsp;&nbsp;&nbsp;What he does: Michael serves as counsel in the New York office of Skadden’s Antitrust/Competition Group where he represents clients in a broad range of antitrust transactional, litigation and advisory matters. His representations span a diverse range of industries, including technology, health care, life sciences, manufacturing, consumer goods, sports, entertainment and professional services.&nbsp;&nbsp;Organization: SkaddenWords of wisdom: “Offering a remedy upfront, particularly a very compelling remedy, can really be a helpful strategy before you get to court.” &nbsp;Connect: LinkedInConnect with Skadden☑️ Follow us on <a...

Until recent years, there was barely a single collective claim in Europe, but now, things have changed.This episode of the “Fierce Competition” podcast features Skadden partners Bill Batchelor, Bruce Macaulay and Matt Martino, who explore class action lawsuits in the U.K. and U.S., focusing on the evolving role of the Competition Appeal Tribunal (CAT), a new collective actions tribunal in the U.K., which is currently handling 48 live proceedings, involving a range of unique claims.Differences in the certification process in both jurisdictions are analyzed, as well as the impact of funding agreements, and much more. Tune in as this episode serves as a rich resource for understanding the intricacies of class action lawsuits on different sides of the Atlantic.💡 Meet Your Host 💡Name: Bill Batchelor &nbsp;&nbsp;Title: &nbsp; Partner, Antitrust/Competition at SkaddenSpecialty: Bill Batchelor has 20 years of EU and U.K. competition law experience and focuses his practice on conduct investigations, including abuse of dominance, cartels and vertical agreements. He regularly represents clients on EU and global merger control matters and litigation, and provides counsel on distribution and collaboration agreements in complex and highly regulated industries, such as health care, financial services, insurance, media and entertainment, and gambling, among others.Connect: &nbsp;LinkedIn💡 Featured Guests 💡Name: Bruce Macaulay&nbsp;&nbsp;&nbsp;What he does: &nbsp;Bruce is a partner in the International Litigation and Arbitration Group in Skadden’s London office. He focuses on complex cross-border litigation, competition law disputes and international arbitration.Organization: SkaddenWords of wisdom: &nbsp;On key themes coming out of the CAT at the moment: “We are seeing a number of claims that are pushing the boundaries of what could be termed a competition breach.”Name: Matt Martino &nbsp;&nbsp;What he does: Matt is a partner in the Antitrust/Competition, Sports, and Litigation Groups in Skadden’s New York office. He represents a wide variety of clients in antitrust litigation and advisory matters, as well as those pertaining to all aspects of sports law.Organization: SkaddenWords of wisdom: “Unlike Canada and what it sounds like is developing a bit in the U.K., the U.S. courts will take a very rigorous analysis at the class certification stage, particularly on the predominance requirement of the class action rule.”Connect: LinkedIn&nbsp;Connect with Skadden☑️ Follow us on <a href="https://twitter.com/SkaddenArps?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" rel="noopener noreferrer"...

This episode of the “Fierce Competition” podcast features Skadden antitrust/competition partners Ken Schwartz (New York), Tara Reinhart (Washington, D.C.) and Aurora Luoma (London), who dig into the complexities behind increased antitrust scrutiny for private equity transactions. They shed light on the regulatory focus on market roll-ups, delve into recent litigation and unpack potential political motivations behind the new merger guidelines.&nbsp;The Skadden team provides a guide for private equity firms in this unpredictable regulatory landscape and highlights the importance of being litigation-ready and effectively communicating the benefits of their deals. The bottom line? In the midst of regulatory obstacles and intense scrutiny, diligent preparation paired with a solid economic analysis is a private equity firm's best ally.💡 Meet Your Host 💡Name: Kenneth SchwartzTitle: Partner, Antitrust/Competition at SkaddenSpecialty: Ken Schwartz represents clients in antitrust transactional and advisory matters. He has worked in a diverse range of industries, including agriculture, airlines, chemicals, consumer products, defense and government contracting, energy, entertainment, financial services, health care, insurance, media, medical devices, natural resources, private equity, pharmaceuticals, retail and telecommunications.Connect: LinkedIn&nbsp;💡 Featured Guests 💡Name: Tara ReinhartWhat she does: Tara Reinhart is head of the Antitrust/Competition Group in Skadden’s Washington, D.C. office. She focuses on civil litigation and government investigations, with an emphasis on complex antitrust litigation and international cartel probes.Organization: SkaddenWords of wisdom: “When you're looking at the industries that the agencies have been concerned about with roll-ups, there seem to be so many pro-competitive benefits to talk about, and maybe at private equity firms, you're not used to speaking so much about that, but you should.”Connect: LinkedIn&nbsp;Name: Aurora LuomaWhat she does: Aurora Luoma is a partner in Skadden’s Antitrust and Competition Group. She has a broad practice covering key areas of competition law, including international merger control, antitrust investigations, state aid and sectoral regulation. She particularly focuses on complex global mergers in the EU and U.K.Organization: SkaddenWords of wisdom:&nbsp;“Engagement with regulators is increasingly important from an early stage.”Connect: LinkedIn Connect with Skadden☑️ Follow us on Twitter...