Antitrust Developments Affecting the Semiconductor Industry

Antitrust enforcement continues to be a significant issue for technology companies and the semiconductor industry in particular. This summer there were several major developments with respect to M&A activity. Join us as we discuss these developments and what they mean for semiconductor transactions going forward.

• Broadcom/VMware Takeaways. This transaction cleared its last jurisdiction in August, but not before entering into commitments with the European Commission. We will discuss those commitments and their implications for future deals.
• New Merger Guidelines. In July, the FTC and DOJ released draft merger guidelines that reflect an aggressive approach to enforcement. While it remains to be seen whether courts will adopt the guidelines, they do inform what parties can expect to contend with at the investigative stage. We will discuss potential theories that semiconductor parties may need to prepare for going forward.
• Deal Timelines: What to Expect. Semiconductor transactions often require filings around the globe. We will review some recent transactions in the semiconductor sector, as well as other sectors, to help inform what timeline you can expect for your next transaction.