Judge rules non-reportable, consummated merger violates US antitrust law
One year since the filing of the lawsuit, and 18 months since the merger closed, a US federal judge declared on 8 January 2014 that Bazaarvoice violated section 7 of the Clayton Act by acquiring its main rival, Powerreviews.
The US Department of Justice (DoJ) challenged the $168m (£103m) deal even though Powerreviews was too small to require an HSR pre-merger notification filing with the federal antitrust enforcers. This week’s ruling by judge William H Orrick underscores that even non-HSR reportable, consummated mergers are subject to close scrutiny and may be found to violate the antitrust laws. The case now moves to the remedy phase, where the DoJ can seek an order to unwind the merger.
The government argued that the merger would lead to higher prices and less innovation in the market for product ratings and review platforms used by e-commerce websites. Unlike in most merger challenges, the DoJ did not rely on a heavily concentrated market or high market shares…
If you are registered and logged in to the site, click on the link below to read the rest of the Hogan Lovells briefing. If not, please register or sign in with your details below.
News from Hogan Lovells
News from The Lawyer
Briefings from Hogan Lovells
The decision of the US Court of Appeals has raised questions about how issuers should present their disclosures on conflict minerals under Exchange Act Rule 13p-1 and Form SD.
An interesting judgment was delivered by the Honourable J Majiki on 19 November 2013 in the Eastern Cape High Court, Port Elizabeth.
Analysis from The Lawyer
As international firms question their future in these small, closely linked markets, local lawyers too are eyeing the business environment with caution
Beyond the headline infrastructure projects, UK construction work is still recovering from the clobbering it took during the slump