2024 was a significant year for merger enforcement worldwide. In the United States, the Biden administration continued the aggressive approach reflected in the revamped Merger Guidelines issued in December 2023. In Europe, the President of the European Union appointed a new Commissioner for Competition, Teresa Ribera—signaling an increased focus on promoting innovation and protecting European businesses—while the European Commission suffered a major setback in the courtroom. Asia was a mixed bag: Enforcers scaled back regulatory hurdles for lower-risk deals yet continued to scrutinize more complex transactions. And developments in Australia and New Zealand, including Australia’s proposal of a new premerger notification regime, signal increased scrutiny of future M&A deals.
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