“I think we will see more new claims related to investigations and litigation than in any previous year during the administration,” said Ryan Sandrock, an antitrust lawyer at Shook, Hardy and Bacon and a former Justice Department attorney. “The level of antitrust activity is at an all-time high since I started practicing law in 2003.”
Spokespeople for the DOJ and FTC declined to comment.
With Democrats potentially a year away from losing the White House, the clock is ticking on the countless potential cases still in the funnel. Here’s a look at some of what could be coming in 2024.
In the Ministry of Justice:
Live Nation: The concert promoter and parent company of Ticketmaster has been under observation since the two companies merged in 2010. The DOJ’s current investigation into the company’s dominant role in the live music industry began in earnest last summer and is a top priority for the department heading into the new year.
Apple: This investigation into the iPhone maker dates back to the Trump administration, and a lawsuit has been in the works since last year. At issue is whether the company’s iron control over its mobile operating system, including the App Store, is hurting developers and customers who use the platform by raising prices.
RealPage: While it may not be a household name, major apartment landlords across the country rely on the company’s software to set prices for apartment listings. The District of Columbia Attorney General’s Office recently accused RealPage of colluding with landlords and property managers to fix prices, and the company is a defendant in several similar class action lawsuits. The Justice Department is conducting its own investigation that could conclude next year.
Visa: The US Department of Justice has been investigating the credit card giant for several years to determine whether the company is illegally crowding out competing payment processing networks. A lawsuit could reshape the payments industry. In 2010, the company completed an antitrust investigation with the department regarding restrictions on merchants designed to entice customers to cheaper payment alternatives.
UnitedHealthcare and Amedisys: The largest U.S. health insurer has soared in recent years, buying at least four companies outside of the traditional insurance business. The company beat back a U.S. Justice Department lawsuit seeking to block its acquisition of tech company Change Healthcare and closed the deal with home health giant LHC Group after a lengthy FTC investigation. At the beginning of the year, the New York medical service provider Crystal Run was also acquired. Now the Justice Department is investigating United’s purchase of another major home health company, Amedisys, the second major deal in the sector in less than a year.
At the FTC:
Amazon and iRobot: The FTC has been probing Amazon’s $1.4 billion purchase of Roomba maker iRobot for nearly a year and a half, and agency lawyers worry that Amazon would favor Roomba parts and products over rival brands like Samsung. The EU is also sticking with the deal and a decision from the FTC is expected early next year.
Kroger and Albertsons: The agency is expected to make a decision early next year on whether to participate in the mega-merger that would create the country’s largest grocery chain. The $24.6 billion deal has drawn widespread opposition from unions and lawmakers who fear it could lead to falling wages and higher consumer prices.
Oil mergers: The FTC this month conducted in-depth reviews of Exxon Mobil’s $60 billion deal for Pioneer Natural Resources and its $53 billion takeover of Hess Corp. initiated by Chevron. The deals are part of increasing M&A activity in the oil and gas sector, which is consolidating quickly and liquidly. The reviews are still in their early stages, but decisions will be made sometime next year.
Subway: The sandwich chain giant is under investigation over its roughly $10 billion acquisition by private equity firm Roark Capital, which already owns rivals Jimmy John’s and Arbey’s. The review is still in its early stages and a decision is expected next year.
Qualcomm and Autotalks: Chipmaker Qualcomm wants to expand its range of assisted and autonomous vehicles by acquiring Israeli company Autotalks. The deal was reviewed by the FTC and in Europe this summer and a decision is expected in the coming months.
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2023-12-31 01:01:09
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