Merger Control, Foreign Direct Investment, and Foreign Subsidies

"‘The team is made up of deep thinkers who understand the commercial drivers behind a deal. Very good knowledge of how the antitrust agencies are currently approaching issues and what arguments will resonate the most with them.’"

The Legal 500 U.S. 2023

Baker Botts offers strategic guidance throughout the transactional process, taking a nuanced approach to complex questions of risk assessment in mergers, acquisitions, collaborations, and other transactions and navigating the complex terrain of global merger clearances, foreign direct investment (FDI) approvals, and the EU's Foreign Subsidies Regulation (FSR).

Our antitrust and competition team has worked to secure transaction clearances in every major jurisdiction, interacting with the U.S. Department of Justice (DOJ), the U.S. Federal Trade Commission (FTC), the European Commission (EC), China's State Administration for Market Regulation (SAMR), the UK Competition and Markets Authority (CMA), and the Competition Commission of India (CCI), among others. Combined with a thorough understanding of the unique issues and dynamics in a broad variety of industries, our team works seamlessly across borders to help clients plan and execute transactions. Our integrated transatlantic team has been ranked one of the Top 10 in the world for their excellence in merger control by Global Competition Review (2023).


HOW WE ASSIST CLIENTS
We provide guidance on strategic planning and the development of acquisition and divestiture programs
We collaborate on front-end risk assessment and negotiate risk-shifting and other key transaction terms.
We identify FDI filings - an increasingly important feature of transactions - and develop and implement strategies to handle global approvals.
Assess whether a transaction may trigger an FSR reporting obligation with the EU Commission and, if needed, collaborate with client on the notification filing strategy and timeline.
We field a multilingual and highly experienced team in international merger control, who navigate merger control regimes worldwide to prepare necessary transaction filings, coordinate parallel reviews and negotiation of remedies.
We engage with competition authorities to advocate for our clients' business objectives.
We collaborate with clients to quickly and comprehensively respond to agency information requests.
We conduct nuanced remedy negotiations with reviewing authorities in order to secure clearances on complex deals.
We draw on our significant experience to guide proposed transactions through regulatory review, minimizing delays and avoiding enforcements actions.