CRA consultants advised Evonik as it sought regulatory approval of its acquisition of PeroxyChem in front of the Federal Trade Commission (FTC) and later in federal district court. CRA economists provided analyses related to coordinated effects, horizontal unilateral effects, and vertical foreclosure and raising rivals’ costs effects, among others, in the context of the FTC’s merger review. CRA economists also advised Evonik and its counsel Freshfields through litigation, which concluded successfully for the parties. In January, Judge Timothy Kelly denied the FTC’s motion for a preliminary injunction. In February, Evonik successfully closed its acquisition of PeroxyChem. CRA’s team was led by Joanna Tsai, Martino De Stefano, and Yajing Jiang, and included Serge Moresi, Adriana de la Huerta, Tanguy Brachet, Keler Marku, and William Dodds.
Mergers and acquisitions in the tech industry: Are they different?
Mergers and acquisitions (M&A) activity in the technology sector is the subject of an intense debate which has spurred enforcement, regulatory, and legislative...