Antitrust/Competition

When your deal faces substantial scrutiny, our antitrust lawyers can guide you to closing. We have shepherded clients through the most challenging and high-profile transactions, including:

• CVS Health’s US$70 billion acquisition of Aetna
• Bayer’s US$66 billion acquisition of Monsanto
• US Airways’ US$17 billion merger with American Airlines
  
• Danone’s US$12.5 billion acquisition of WhiteWave
• Albertson's US$9 billion acquisition of Safeway
• General Electric Company's proposed US$3.3 billion sale to AB Electrolux
• Office Max’s US$2.5 billion merger with Office Depot
• Evonik’s US$625 million contested acquisition of PeroxyChem
• Whole Foods’ US$565 million acquisition of Wild Oats Markets, Inc.
• ATT's US$85 billion acquisition of Time Warner
• Getaroom's US$1.2 billion sale to Booking Holdings
• U.S. Ecology's US$2.2 billion sale to Republic Services, Inc.

Read more about clients’ positive results.

In collaborating with Dechert, you benefit from our in-depth understanding of merger control policy in the U.S., EU and around the globe, our credibility with enforcers, knowledge of your industry and sophisticated data analysis. You can count on our support and guidance, when:

• Structuring your mergers, acquisitions, joint ventures, and licensing agreements to maximize prospects for clearance across jurisdictions
• Steering you through advanced merger investigations, such as U.S. Second Requests, EU Phase I and II reviews, and parallel state investigations, and avoiding such reviews whenever possible
• Developing creative remedies to resolve enforcer concerns while preserving your deal’s value
• Successfully defending your transactions in court when necessary and prevailing in trial
• Helping you acquire divestiture assets in third party transactions or developing offensive strategies to challenge competitor deals

You can also count on us for timely and in-depth insights on the latest merger control trends in our quarterly DAMITT reports.

Learn more about how Dechert antitrust lawyers can help with your next transaction.

When antitrust litigation is brought against your company seeking damages, fines, or injunctions that threaten your business model, you can rely on us to defend your company, minimize impact and get your company back to business. Conversely, our broad experience defending antitrust claims equips us well to pursue antitrust claims and counterclaims when competitors engage in conduct that threatens your company’s business model.

Clients also turn to us to use antitrust law affirmatively to support their commercial objectives.

Significant wins:

• In re Opana ER Antitrust Litigation: Secured a landmark jury verdict for Endo Pharmaceuticals, Inc. following a three-week federal trial. The defense verdict was the culmination of eight years of litigation and the result of a persistent focus on building and presenting Endo’s defenses prior to and during trial.
• In re Processed Egg Products: Obtained a jury verdict after a six week trial that our client did not participate in the price-fixing conspiracy, avoiding any liability in a US$1.1 Billion class action. The class plaintiffs did not appeal the verdict as to our client.
  
• TravelPass Group LLC et al v. Caesars Entertainment Corporation et al.: After five days of an antitrust jury trial, secured a public apology and highly favorable settlement for the client.
• Doheny Enterprises Inc v. Clearon Corporation: Obtained a favorable settlement through aggressive advocacy in defending an attempted monopolization claim brought by a distributor against a chemical manufacturer.
• Avastin/Lucentis: Substantially reduced our client’s fine from the French Competition Authority, and we continue to appeal this case which features novel theories of off-label drug use and “collective dominance.”
• FTC v. Endo Pharmaceuticals I: Used aggressive advocacy to achieve a favorable settlement with no admission of wrongdoing and no monetary penalty in this cutting-edge FTC enforcement action alleging a “reverse payment.”
• In re Hydrogen Peroxide Antitrust Litigation: Played an instrumental role in rewriting U.S. laws on antitrust class action certification, securing a significant court victory for the client.
• In re Titanium Dioxide Antitrust Litigation: Prevailed in federal district court on summary judgment in an opt-out case brought by Valspar alleging a conspiracy to fix the price of titanium dioxide; summary judgment was affirmed by the Third Circuit.
• Anderson News LLC v. American Media, Inc.: Obtained dismissal on summary judgment of group boycott conspiracy and successfully defended the dismissal on appeal.
• Google Search and Google Shopping: Advised multiple complainants in the European Commission’s investigations which led to respective fines of €4.34 billion and €2.42 billion.
• Suture Express v. Owens & Minor; Schuylkill v. Owens & Minor: Obtained dismissal of a competitor’s claims that our client was engaging in exclusionary distribution practices and obtained a favorable settlement in a related class action after similar dismissals.
• Valspar v. DuPont: Achieved summary judgment for DuPont in the face of negative precedent, which the Third Circuit affirmed in a key decision setting the standards applied to conspiracy claims in oligopolistic markets.
• In re Crown Holdings: Advised in the European Comission's metal packaging cartel investigation, settling the case for less than €8 million in fines.
• In re Huhtamäki: Gained a three-quarters’ reduction in the European Commission’s likely cartel fine.

Read more about our clients' positive results. 

With Dechert as your partner for antitrust litigation, you gain:

• Cutting-edge knowledge of shifting antitrust enforcement policy, case law, and market developments that impact your company’s defense
• Battle-tested advisors — our trial-ready antitrust lawyers have achieved favorable courtroom outcomes in ground-breaking antitrust litigation
• Practical guidance through all litigation stages, including the defense of simultaneous civil, criminal, federal, state and international proceedings
• Decades of success in managing multi-forum class-action litigation, including defeating class certification in high-stakes litigation
• Unmatched experience obtaining dismissals of claims alleging collusion and exclusionary conduct under the Sherman Act
• Diverse inside experience as Assistant United States Attorneys, Assistant Attorneys General, U.S. and EU enforcers and senior lawyers at other government agencies

Learn more about how Dechert antitrust lawyers can help guide you through complex litigation.

If a government investigation is imminent, you are in good hands. Dechert has the global presence and experience to help you quietly and efficiently prevent or resolve cartel or exclusionary conduct investigations.

By partnering with Dechert, you benefit from our:

• Guidance through all phases of internal investigations, from raid through resolution — including parallel and derivative matters
• Familiarity and credibility with enforcers and regulators, enabling us to protect your interests and minimize impact
• Experience before the Department of Justice, Federal Trade Commission, European Commission, Congress, state attorneys general and other national and international agencies
• Successful track record in obtaining termination of investigations and, when necessary, reducing fines, or negotiating favorable resolutions that preserve your company’s ability to pursue its business goals
• Experience in representing individuals who are targets or suspects in antitrust criminal investigations
• A seamless strategy that maximizes your company’s defense in follow-on private litigation

Learn more about how Dechert antitrust lawyers can help you minimize your risks.

Keeping the path to your business goals clear of antitrust obstacles begins with proper counseling and compliance. Our client focused approach is a hallmark for our practice. Industry leaders rely on our practical approach and ability to learn their businesses. We help you minimize antitrust risks through customized compliance programs and counseling on:

• Agreements with customers, distributors and other resellers, and guidance on unique distribution systems
• Agreements with suppliers and licensors
• Analyzing and communicating about price changes, production levels, and capacity
• Product improvements, aftermarkets, and interoperability with competitors
• Collaborations and communications with competitors, including through joint ventures, trade associations and standard setting organizations
• Human resources practices subject to antitrust scrutiny
  

Learn more about how our antitrust lawyers can help you plan for and achieve your business goals. 

Chambers and Partners

• Ranked among leading lawyers and firms for antitrust/competition in the United States, Belgium, France and Germany.

Global Competition Review

• Shortlisted for “Behavioral Matter of the Year – Europe,” for the Paris Court of Appeal’s decision to slash a record fine imposed on Apple.
• Shortlisted for “Litigation of the Year – Cartel Defense,” for In re Opana ER Antitrust Litigation.
• Ranked as one of the leading Antitrust/Competition practices in the world as part of the Global Elite.
• Named “elite” in Pennsylvania, “outstanding” in Washington, D.C. and “recommended” in Brussels, France, Germany and New York.
• Shortlisted for “Litigation of the Year – Cartel Defense” in TravelPass v Marriott. 
• Evonik/PeroxyChem shortlisted for “Merger Control Matter of the Year- Americas.” 
• Fresenius/NxStage shortlisted for “Merger Control Matter of the Year- Americas.” 
• CVS/Aetna named “Merger Control Matter of the Year – Americas.” 
• Bayer/Monsanto named “Global Matter of the Year” and “Merger Control Matter of the Year for Europe.” 
• SK hynix/Toshiba Memory Corp shortlisted for “Merger Control Matter of the Year – Asia-Pacific, Middle East and Africa.” 

The Legal 500

• Ranked for Antitrust: Merger Control and Antitrust: Civil Litigation/ Class Actions in the United States.
• Recognized in Belgium, France and Germany.

Law360

• Named antitrust/competition “Practice Group of the Year” for 2020 and 2019.

The American Lawyer

• CVS Health/Aetna Inc. named “Global M&A Deal of the Year.” 
• Shortlisted for “Antitrust Practice of the Year.” 

The Deal

• CVS Health/Aetna Inc. named “Deal of the Year” and “Healthcare Deal of the Year.”

U.S. News and Best Lawyers®

• Ranked Tier 1 for Antitrust Law and Antitrust Litigation in the United States.