Articles Posted in Merger Highlights

On September 4, 2012, the Antitrust Division announced that 3M Co. abandoned its plan to acquire Avery Dennison Corp.’s Office and Consumer Products Group after the Division informed 3M that it would sue to block the transaction.3M Response Later that day, 3M responded that it has only withdrawn its notification form filed under the Hart-Scott-Rodino…

On August 22, 2012, the FTC commissioners voted 5-0 to close its investigation of Facebook’s acquisition of Instagram without any action.Background In April of 2012, Facebook, an internet social media platform, announced it would acquire Instagram, the developer of a photo-sharing application and a company with no revenues.The FTC issued a second request to scrutinize…

On August 6, 2012, the FTC settled a case against Renown Health, the largest provider of acute medical care in northern Nevada, related to allegations that Renown Health reduced competition in the adult cardiology market in Reno, Nevada through two allegedly anticompetitive acquisitions and the use of anticompetitive non-compete clauses.Competitive Problem Through Renown Health’s acquisitions…

On July 31, 2012, the Federal Trade Commission (Commission) issued a statement withdrawing the Commission’s nine-year-old Policy Statement on Monetary Equitable Remedies in Competition Cases (Policy Statement). The statement’s withdrawal was approved on a 4-1 split vote, with Commissioner Maureen K. Ohlhausen casting the lone no vote and issuing a dissenting opinion.The 2003 Policy Statement…

On May 3, 2012, the Antitrust Division of the Department of Justice (“DOJ”) announced that an executive of Hyosung Corporation, an affiliate of Nautilus Hyosung Holdings Inc. (“Nautilus”), agreed to plead guilty and serve five months in prison in the United States for obstruction of justice charges in connection with the antitrust agencies’ merger investigation…

On April 2, 2012, the Federal Trade Commission (“FTC”) closed its investigation of Express Scripts, Inc.’s (“Express Scripts”) proposed acquisition of pharmacy benefits manager (“PBM”), Medco Health Solutions, Inc. (“Medco”) Express Scripts consummated its acquisition of Medco on the same day.Background On July 20, 2011, Express Scripts entered into an agreement to acquire Medco for…

On March 27, 2012, the DOJ announced it would require Humana, a leading health insurer in the United States with 2010 revenues of approximately $33.6 billion, and Arcadian, which had approximately 62,000 MA members in 15 states and 2010 revenues of $622 million, to divest assets relating to Arcadian’s MA business in parts of five…

On February 10, 2012, the Department of Justice (“Department”) entered into a settlement that allows International Paper to acquire Temple-Inland. The settlement agreement requires International Paper and Temple-Inland Inc. to divest three containerboard mills in order to proceed with their $4.3 billion merger. The Department said that the merger, as originally proposed, would have substantially…

In an initial decision issued on January 5, 2012, FTC Chief Administrative Law Judge D. Michael Chappell ordered ProMedica Health System Inc to divest recently-acquired St. Luke’s Hospital to an FTC-approved buyer within 180 days after the order becomes final. See http://www.ftc.gov/os/adjpro/d9346/120105promedicadecision.pdfIn May 2010, in a non-HSR reportable transaction, ProMedica agreed with the FTC to…