Diagnosing Section 1 Violations

Law360, New York (February 25, 2009, 12:00 AM EST) -- Without running afoul of the antitrust laws, what kind of information can parties to a merger exchange as part of the due diligence process, and to what extent may the acquiring party direct the target's business decisions prior to closing?

Although the Federal Trade Commission and U.S. Department of Justice provide general guidance on these "gun-jumping" issues in policy speeches and consent decrees, their pronouncements mostly relate to cases where pre-closing coordination takes place before the Hart-Scott-Rodino Act (HSR) waiting periods have expired.

In addition to...
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