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Karen Hoffman Lent and Kenneth Schwartz Karen Hoffman Lent and Kenneth Schwartz

On Jan. 10, 2020, the Department of Justice (DOJ) and the Federal Trade Commission (FTC) (collectively, the agencies) released Draft Vertical Merger Guidelines (draft guidelines), marking the first update to the guidelines for vertical merger enforcement since the now-withdrawn 1984 Non-Horizontal Merger Guidelines (1984 guidelines ). The draft guidelines aim to increase “the transparency of the analytical process underlying the agencies’ enforcement decisions” for mergers between firms at different levels of the supply chain. U.S. Dept. of Just. and Fed. Trade Comm’n, Draft Vertical Merger Guidelines (Jan. 10, 2020).

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