Investment bankers and deal lawyers accustomed to regulatory hurdles to their mergers face an unprecedented challenge under U.S. President Joe Biden – antitrust watchdogs who are undaunted when they lose such battles in court. | Reuters
“It’s a combination of the FTC and being willing to litigate and the fact that companies are fighting back,” Grosberg said.
“Without question, what is clear about this team compared to their predecessors is that they are not haunted by the possibility that they might lose these cases,” said former FTC chair and George Washington University Law School antitrust professor William Kovacic. The Justice Department declined to comment further, referring Reuters to recent public comments from Kanter on the subject.The biggest deal currently at stake is Microsoft Corp’s $69 billion bid for “Call of Duty” maker Activision Blizzard Inc. The FTC has sued to stop it, arguing it would allow Microsoft’s Xbox to get exclusive access to Activision games and put it in a position to dominate the gaming market.
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