Yesterday, the U.S. Department of Justice (DOJ) and the Federal Trade Commission (FTC) jointly issued revised Horizontal Merger Guidelines. The Guidelines provide essential information for parties contemplating a merger or an acquisition with a potential or actual competitor.

The Guidelines explain how the DOJ and the FTC will evaluate both the potential competitive impact of the transaction and whether to challenge the proposed transaction. The agencies revised the Guidelines to provide a better explanation of the agencies' current practices, which have evolved since the Guidelines were last revised in 1992. The agencies had issued proposed revisions to the Guidelines in the Spring for public comment. Click here to access the Guidelines.