Expect more antitrust lawsuits as the economy seeks bottom. So says Michael L. Keeley, a partner in the antitrust group of Axinn, Veltrop & Harkrider LLP. In this edition of Inside The Deal, Keeley tells Suzanne Stevens that two factors are in play: the likelihood of companies in a recession to more aggressively protect their turf, and an increased willingness among struggling companies to dedicate resources to litigation. Keeley, who also addressed the topic in a recent issue of The Deal newsweekly, says the number of antitrust lawsuits already filed this year exceeds those filed in all of 2007. Add that to President-elect Obama's stated intention to more actively pursue monopolistic conduct, and the courts should see plenty of antitrust activity in 2009.
At The Deal's M&A Outloook 2009 conference Robert Pitofsky, professor of antitrust & trade Georgetown University addressed how antitrust enforcement will change during the Obama administration.
What could an Obama administration may bring to the merger-clearance environment? In this edition of Inside The Deal, Michael Cohen, a partner at Paul Hastings explains to The Deal's Suzanne Stevens that there may be more strategic combinations than in prior years due to antitrust regulation. He also also explores the implications on the Federal Trade Commission's battle of Whole Foods Market Inc. and Wild Oats Markets Inc. integration.
John Glynn of PricewaterhouseCoopers, and Jeffrey Schmidt of Linklaters spoke with The Deal's William McConnell at The Deal Economy 2010 about Obama's increased enforcement of antitrust and its effect on dealmaking and accounting standards.
Cadbury plc (NYSE:CBY) is expected next week to publish a formal defense (The Deal Pipeline subscription required) to Kraft Foods Inc.'s (NYSE:KFT) $16.3 billion hostile bid. In the meantime, the U.K. confectioner may be hoping a competing bid materializes from some combination of Pennsylvania-based Hershey Co. (NYSE:HSY), Nestle SA of Vevey, Switzerland or Italy's Ferrero International SA. There's also been talk that Kohlberg Kravis Roberts & Co. might be interested in a bite of Cadbury. If another offer does arrive, it may bring with it some serious antitrust scrutiny, says John Briggs, co-chair of the antitrust practice group at Axinn, Veltrop and Harkrider LLP.
THE ANTITRUST REVOLUTION IN EUROPE: Exploring the European Commission’s Cartel Policy
By Lee McGowan
DEVELOPING EUROPEAN ANTITRUSTS TO DETER THE CARTELISTS IN A CHANGING ECONOMIC ENVIRONMENT
An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers
When we read through this book, it became apparent very quickly that the 200 odd pages are very relevant to a wide variety of readers: lawyers, academics and students alike. ‘The Antitrust Revolution’ as explained here has direct relevance to those studying regulatory politics and policy making in Europe.
As Lee McGowan writes in his Preface, “interest in European competition policy has never been higher and the literature has never been richer!” Well said!
Recent reviews by the European Commission in all areas of competition law are taking place. So, when considering the evolution, aims and developments of antitrust policy, McGowan’s focus on the way the Commission has sought to combat cartels is very timely.
This book is actually as much about politics as it is about the public policy approach to developments and his historic analysis combined with careful empirical work underpins the entire thesis. Probably the most useful area for many readers is the investigation into what can be described as the ‘internationalisation’ of European cartel policy thus explaining the future external and internal challenges which will be faced in the near future.
McGowan states that ‘cartels have very rarely attracted the attention of political science’ whilst ‘cartel-busting has always been one of the foremost activities of the Commission’! Whilst there may be a debate between commentators on whether the recent reforms are ‘revolutionary’ or merely ‘the latest development in a regime that has been continually marked by the neo-liberal turn of the 1980s’ one thing is clear- ‘we are living in interesting times’ as the current economic downturn impacts on competition law.
There are 8 chapters covering these points: the origins and scope of European competition policy; uncovering cartels; the rise of the cartel; the dawn of the competition principle from 1945-1957; establishing the architecture of EU cartel governance; European cartel policy 1963-1998; the antitrust revolution from 1999; and internationalization of cartel policy.
We can highly recommend this book to lawyers, politicians and political scientists, especially those looking for a broader grounding in cartel policy as all the goal posts seem to be moving.
The final word can be left with the excellent Leon Brittan: ‘there is little doubt that competition policy finally came of age in the course of the last 20 years’… writing as he was in 2000. Then we had the sudden and unexpected collapse of Lehman Brothers in September 2008.
This leads McGowan to a reasonable conclusion on the penultimate page of the main text- ‘whatever the future holds for European competition policy… and softening is expected in certain areas… the war against cartels is unlikely to change’.
He is right, but one thing remains- we do not know what will happen in the changing economic environment, and no-one has a crystal ball for that: it’s a great read McGowan, so thanks at least for the ideas!
http://www.lawcrossing.com/video/5340/Antitrust-and-Trade-Regulation-Attorney-Jobs/ - Attorneys are considered to be the backbone of the society as they are responsible for maintaining law and order in the society.
India’s Competition Commission confirmed that Google is undergoing an antitrust investigation after a match-making website filed a complaint against its “alleged discriminatory practices” in AdWords. An Indian dating website has filed the complaint against the search engine giant, alleging that it has breached the country’s antitrust laws for its advertising unit, AdWords. The complaint accused Google of luring 2 Indian dating sites into a bidding war over its ad keywords in online search.
Competitive Enterprise Institute Information Policy Analyst Ryan Radia discusses the decision of European regulators to fine Intel $1.4 billion for alleged anti-competitive practices.
Thank you for joining us. I am your host Sara Bryant at CRWE Newswire Stocks to watch. Terex Corporation - symbol TEX - reported that it has received clearance from the European Union to complete its previously announced purchase offer for Demag Cranes AG. With this approval, the final condition of closing has been met, and settlement of the purchase offer is anticipated to occur the week of August 15. Demag Cranes AG will add a new business segment to Terex with world-class products in industrial cranes and hoists, port technology and service. Demag Cranes AG’s business is highly complementary to the existing Terex business, and the combination has compelling industrial logic, with a strong footprint in Europe and emerging markets. Terex Corporation is a diversified global manufacturer operating in four business segments: Aerial Work Platforms, Construction, Cranes, and Materials Processing. Thank you for tuning in, have a great day. For CRWE Newswire, Stocks to watch, I’m Sara Bryant.
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* NBC confirms pulling YouTube content for Hulu launch.
* MYSPACE to announce casual gaming site.
* AT&T U-verse suffers nationwide glitches.
* OXYGEN to launch second web-only series.
* MICROSOFT drops antitrust appeals.
Get the Story at Media30.com.
1. Microsoft Seeks Allies For New Yahoo Bid: Report, Yahoo Shares Slide, 2. Microsoft Confirms Plans To Purchase Search Firm Powerset, 3. Google - Yahoo Deal Subject Of Antitrust Probe: Report
Kolynos foi uma empresa que foi adquirida pela Colgate-Palmolive no final da década de 90.Sua compra aconteceu em uma época em que o mercado brasileiro começava a ficar atraente, com sua abertura ao mercado exterior. A compra da Kolynos, feita pela Colgate-Palmolive, empresa norte-americana, envolveu uma transação de US$ 1,040 bilhão, em que US$ 760 milhões foram destinados ao mercado brasileiro.
Na época, protestos das concorrentes, principalmente Procter & Gamble (P&G), grande interessada na compra, trouxeram à mídia uma série de discussões a respeito da lei antitrust e sobre a atuação do Conselho Administrativo de Defesa Econômica (CADE), conselho responsável por defender, dentre outras coisas, a competitividade da economia no Brasil.
A Procter & Gamble protestava com base na informação de que a união das duas companhias as tornariam detentoras de 52% do mercado de higiene e beleza. A Colgate, até então possuidora da incrível marca de 27% do market share (participação no mercado), passaria a deter a maior parte; saltaria para uma marca incrível de 79% do setor de higiene bucal, o que poderia ir completamente contra ao estabelecimento de uma competição saudável.Kolynos é uma marca de pasta-de-dente muito famosa no Brasil, que foi extinta e substituída na fusão, pela então recém-criada Sorriso.O creme dental Kolynos é um exemplo de como a construção da marca com o devido sucesso tem o poder de fixar na memória do consumidor um determinado produto. O processo envolve um trabalho de memorização da marca, com ações que englobam da embalagem ao caminhão.
Todos que a conheceram lembram da sua clássica embalagem amarela e da propaganda na televisão, dos mershandisings em programas como Domingão do Faustão e nos intervalos comerciais de programas diversos nos mais diversos horários. O alvo destas propagandas eram os públicos AB.
A força desta marca era tão grande que apenas recentemente, em 2003, quando indagados por uma pesquisa, que tinha o objetivo de tabular as marcas mais lembradas na cabeça do consumidor (Top of Mind), a Kolynos perdeu a primeira posição para sua substituta, a Sorriso. Um fato incrível já que desde 1997 a marca havia sido extinta.
O Top of Mind 2002 já sinalizava a alteração, com empate técnico entra as duas marcas. Desempatadas pelo conceito de "awareness" (lembrança da marca), um dos itens que pontua esta pesquisa. Os dados da pesquisa mostravam uma marca de 32% de lembrança para a Sorriso e 30% para a Kolynos.No ano seguinte, em 2003, a situação mudou completamente e ao serem perguntados que outras marcas lhe vinham à cabeça quando se fala em pasta de dente, 34% lembravam da Sorriso e 26% da Kolynos. Como curiosidade, percebe-se que a soma do ano anterior foi de 62%, e no ano seguinte 60%.
No Top of Mind de 2004 a Kolynos caiu mais cinco pontos para o patamar dos 21%. A Colgate subiu quatro pontos, para 28% enquanto Close-up e Gessy permaneceram com o mesmo índice, a primeira com 6% e a segunda com 2%. Novamente, nota-se uma queda na soma total: A soma das duas marcas (Sorriso e Kolynos) totalizando 49% contra os 62% do ano anterior.
Já no Top of Mind de 2005, a Kolynos permaneceu no patamar de 21% e sua substituta, Sorriso perdeu espaço para Colgate, sendo a primeira com 28% e a segunda com 35%. A soma das duas marcas (Sorriso e Kolynos) neste ano foi novamente de 49%.
Pfizer Inc. hopes to close its $68 billion deal to buy Wyeth by the end of 2009. To get there it will have to pass muster with antitrust regulators and credit agencies. Then the real work of integration begins. In this edition of Inside the Deal, Robbert van Batenburg, head of equity research for Louis Capital Markets, tells Suzanne Stevens that the stakes for both companies are high. But with its patent on the blockbuster Lipitor set to expire in 2010 and a limited pipeline to offset the loss, the risks of the deal collapsing would be particularly damaging for Pfizer.
The approval by U.S. antitrust regulators of Pfizer Inc.'s (NYSE:PFE) acquisition of Wyeth is an outlier of how merger reviews will be conducted under the Obama administration. That's according to Jeffrey Schmidt, a partner with Linklaters and a former director of the Federal Trade Commission's office of competition under Pres. George W. Bush. Schmidt, who will be discussing the antitrust landscape at The Deal Economy 2010 conference Nov. 18 and 19, says based on reports about the review, it seems regulators expanded their investigation beyond what would have taken place under the previous administration. See the video below or download it at iTunes. - Suzanne Stevens
Comcast Corp.'s deal to acquire NBC Universal from General Electric Co. (NYSE:GE) will likely receive a lengthy and comprehensive antitrust review. John Briggs, co-chair of the antitrust practice group at Axinn, Veltrop & Harkrider LLP, says the issue expected to get the most attention is how Comcast, an Internet and cable operator, will manage and price NBC Universal content.