On Sept. 21, 2010, Assistant Attorney General Christine A. Varney delivered a speech entitled “International Cooperation: Preparing for the Future” at the Fourth Annual Georgetown Law Global Antitrust Enforcement Symposium.1 Ms. Varney also used this serious antitrust peer forum to express a few bromides concerning the recently revised 2010 Horizontal Merger Guidelines (HMG). Lauding the 2010 HMG’s window onto the Department of Justice (DOJ) and the Federal Trade Commission (FTC) refined merger analysis, she alluded to unspecified “advances in economic learning and changes in business realities” that have occurred since the release of the 1992 HMG.2
According to Ms. Varney, informed by the 2010 HMG, the DOJ will “call for the production of information that businesses simply did not possess almost twenty years ago when the Guidelines were last revised,”3 including “documents and data reflecting margins, diversion ratios, pricing information, and bidding histories.”4
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