Yet the simple reality is that buyers still need to do deals to advance strategic goals, and most contested deals do make it to close. ![]() Rising scrutiny and lengthening review timelines have caused a handful of companies to withdraw their deals. ![]() For example, the FTC’s challenge to Amgen’s $27.8 billion purchase of Horizon Therapeutics was resolved via a consent order-and after months of delay. Today’s US Department of Justice and Federal Trade Commission (FTC) prefer litigation, and the legal outcome often is a court-ordered remedy. Concerns raised by the European Commission and the UK’s Competition and Markets Authority (CMA) caused Microsoft to restructure its $69 billion acquisition of Activision Blizzard. And among the $255 billion of those deals that ultimately closed, nearly all required remedies. In 20, at least $361 billion in announced deals were challenged by regulators around the globe.
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