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Facebook Loses Appeal Over CMA s Giphy Merger Probe
Law360, London (May 13, 2021, 12:36 PM BST) An appeals court has tossed Facebook s challenge to restrictions imposed by U.K. antitrust enforcers as they investigate its purchase of Giphy Inc., saying on Thursday that the continuing restraints are a problem of the tech giant s own making
The Court of Appeal has said that Facebook sat on its hands rather than answer questions from the Competition and Markets Authority about its buy-up of Giphy. (AP Photo/Ben Margot) The Court of Appeal s decision, penned by Master of the Rolls Geoffrey Vos, said that, rather than responding to requests for information from the Competition and Markets Authority about its buy-up of the.
In this Issue:
United States
1. FTC abandons challenge to Philadelphia hospital merger.
On March 1, 2021, the FTC, suffering its first loss in a hospital merger challenge since 2016, voted 4-0 to end its effort to stop the proposed $599 million merger of Philadelphia-area health care systems Jefferson Health and Albert Einstein Healthcare Network. The FTC’s decision comes about a month and a half after the Pennsylvania Attorney General’s office dropped out of the joint challenge.
The FTC challenged the merger on the basis that it would hurt competition in the Philadelphia-area health care market, and after a defeat at the district court, told the appellate court that the judge had applied “faulty economic reasoning.” The FTC alleged that a combined network would control over 60% of the market for inpatient general acute care services in and around North Philadelphia and at least 45% of the market for those services in and around Montgomery County. The FTC alleged that t
Cartel investigation and director disqualifications.
In March 2021, three additional company directors were disqualified for several years, following a cartel investigation of their companies by the UK Competition and Market Authority (CMA).
The CMA’s investigation of leading rolled-lead manufacturers Associated Lead Mills and Royston Sheet Metal (both owned by International Industrial Metals) and H.J. Enthoven (owned by Eco-Bat Technologies and trading as BLM British Lead) (BLM) culminated in an infringement decision and penalties totaling £9 million (approx. EUR 10.5 million, USD 12.5 million). A key finding was that the infringements had taken place at a very senior level, involving directors who concealed actions that they knew, from having undergone competition compliance training, were in breach of competition law.
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Goldman axes short dollar call as U.S. yields spoil bet
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S&P 500 breaks above 4,000 as bull market barrels on
Barry Schwartz s Top Picks: April 1, 2021
Miley Cyrus s offer shows how stocks are now cool
A traditional Wall Street advantage is suddenly being threatened
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Megadeal surge leads Canada to record first quarter for M&A
Kim Bolton s Top Picks: March 31, 2021