Ultimately, the opinions that matter are those of the Antitrust Division of the United States Department of Justice (DOJ) and the Federal Communications Commission (FCC). Both must approve the merger before it can be consummated and a new company created. Those two agencies have different, albeit slightly overlapping, responsibilities in this regard.
A recent U.S. Supreme Court decision could help bolster Americaâ€™s standing as a competitive location for capital formation. Or at the very least, the decision has forestalled the onslaught of plaintiff antitrust claims against Wall Streetâ€™s IPO underwriting process.
On July 11, 2007, the Court of First Instance of the European Communities issued two important judgments in the field of competition law, Schneider Electric v. Commission (cf. T-351/03), and Alrosa Company Ltd. v. Commission (cf. T-170/06). The Alrosa ruling received much less press coverage than the Schneider one, although it is no less remarkable.
The CPI Antitrust Chronicle is published online, semi-monthly. It contains cutting-edge commentary on current global antitrust and competition policy issues.