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The Federal Trade Commission (FTC) has imposed a record $5.6 million fine on several oil companies for illegal pre-merger conduct, commonly referred to as 'gun jumping.' This penalty is the largest of its kind to date and serves as a warning to merging parties regarding unlawful coordination before receiving regulatory approval. The FTC's action highlights the importance of adhering to the Hart-Scott-Rodino (HSR) Act waiting period, which is designed to prevent premature integration of companies prior to a merger review. The agency has emphasized that firms must remain vigilant during this period to avoid similar penalties in the future.
FTC Reminds Merging Parties: Don’t Jump the Gun During the HSR Waiting Period! https://t.co/SBU5u6jmJm | by @wilmerhale
[Section Latest] The FTC v. Tapestry decision spotlights the power of documents over testimony and the weight of the 2023 DOJ Merger Guidelines. Learn how the accessible luxury market defined this high-stakes ruling. Read here: https://t.co/FWYLDoJOWu #Antitrust #MergerReview https://t.co/1fGa4iePAd
The @FTC & @JusticeATR recently filed two amicus briefs. In Epic Games v. Google, we explain why the court should uphold the remedy: https://t.co/bGSjH1eC6P In Musk v. Altman, we clarify the law banning interlocking directorates and unfair competition: https://t.co/jHJnW6npAR
