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- Antitrust Transactions
In a global regulatory environment with competition authorities from the U.S. to Europe and from Brazil to China reviewing transactions, companies need expert, timely, and practical antitrust advice from experienced advisors. Covington’s global antitrust transactions group provides a destination practice for companies seeking to anticipate and manage antitrust issues raised in their mergers, acquisitions, joint ventures, and other transactions.
Strategically located in the U.S., Europe, and Asia, our team collaborates closely to identify potential competition law issues, design and manage clearance strategies, and manage and supervise local counsel, to secure timely merger clearances around the world.
In addition to working closely with our corporate team, we frequently draw upon the expertise of our firm’s regulatory practices to anticipate issues and to develop strategies for achieving our clients’ business objectives. As a result of this extensive collaboration, we are well versed in the issues raised by the application of antitrust law in transactions in regulated sectors, including pharmaceutical, financial services, health care, defense, airline, energy, electricity, telecommunications, cable, radio, alcoholic beverages, and IP-intensive industries.
Our antitrust transactional clients also benefit from a team that includes several former senior enforcement officials who were deeply involved in the development of merger policy and gained direct experience with how government authorities conduct merger reviews and reach enforcement decisions. Our experience and expertise enables us to “see around the corners” and provide incisive and practical advice that reduces the risk of surprise and helps our clients get their deals done.
King Pharmaceuticals Acquisition by Pfizer
Representation of King Pharmaceuticals in its $3.6 billion acquisition by Pfizer.
Bacardi Transaction
Covington advised Bacardi Limited in its definitive agreement to acquire Patrón Spirits International AG and its PATRÓN® brand, the world’s top-selling ultra-premium tequila, from John Paul DeJoria, a founder of Patrón. The transaction reflects an enterprise value for Patrón of $5.1 billion.
AstraZeneca Transactions
Representation of AstraZeneca in relation to the creation of a $3.4 billion diabetes joint venture with BMS, and the subsequent acquisition of sole control over that venture; in its acquisition of the rights to Almirall’s respiratory franchise (for initial consideration of $875 million and up to $1.22 billion in development, launch and sales-related milestones); assisting in the acquisition of the Takeda respiratory portfolio; and in relation to the creation of an oncology joint venture with Fujifilm Kyowa Kirin Biologics (FKB).
Sanofi/Verily Life Sciences Transaction
Representation of Sanofi in connection with obtaining clearances from the European Commission and in China, Korea, Switzerland, Taiwan, Turkey and Ukraine for its collaboration with Google Life Sciences, Inc., now Verily, relating to diabetes management products and services.
Qualcomm/CSR Transaction
Representation of Qualcomm in connection with its acquisition of CSR plc, with filings in China, Germany, Japan, Korea and Taiwan.
Verizon Communications Transactions
Representation of Verizon Communications in several transactions, including its $3.89 billion acquisition of AOL. Also advised the company in connection with its purchase of UK-based Vodafone’s 45 percent ownership of Verizon Wireless, as well as Vodafone’s purchase of Verizon’s interest in Vodafone Italy, which was valued at $124.1 billion.
Joy Global Transactions
Advised Joy Global in connection with several transactions, including its acquisition of LeTourneau Technologies from Rowan Companies and its sale of LeTourneau’s drilling systems and offshore products businesses to Cameron International.
Communications and Media Joint Ventures
Counseling for joint ventures for a variety of clients in media and communications, including cable channel ventures, joint ventures for video programming and content, and satellite, wireless, and broadcast joint ventures.
Electronic Arts in its Acquisition of 19.9% Stake in Ubisoft Entertainment
Representation of Electronic Arts in its acquisition of a 19.9% stake in French game company Ubisoft Entertainment, in a transaction requiring the participation of multiple Covington offices on various corporate, antitrust and international issues.
Microsoft Transactions
Representation of Microsoft Corp. in its $8.5 billion acquisition of Skype Communications S.à.r.l., the largest acquisition in the company’s history, in connection with its $4.5 billion acquisition of certain Nortel patents, in its $7.2 billion acquisition of the handset division of Nokia, and its $2.5 billion acquisition of Mojang, the developer of Minecraft.
Representation of De Persgroep
Acted for De Persgroep as a complaining third party in the Mediahuis merger. The case was unprecedented as it resulted in a 3 to 2 merger in the newspaper sector. The merger was conditionally cleared by the new Belgian competition authority.
Michelin Transaction
Representing Michelin in its acquisition of IHLE Holding AG. The transaction involved six national European merger notifications, namely in France, Germany, Austria, Hungary, Romania, and the Czech Republic. This was the first time that an upstream tire manufacturer and supplier took control over a wholesale tire distributor in Europe creating substantial questions about the effects of this vertical integration.
Facebook Transactions
Representation of Facebook, Inc. in many transactions, including its $22 billion acquisition of WhatsApp, $2 billion acquisition of Oculus, and $1 billion acquisition of Instagram.
March 31, 2020
LONDON—James Marshall has joined Covington’s Competition Practice in London as a partner. Mr. Marshall advises on all aspects of competition law and sector regulation and regularly counsels clients on merger control, investigations, commercial deals, abuse of dominance, and compliance. He is recommended by Legal 500 in multiple categories and is recognized as a ...
Covington Named to GCR's Global Elite
January 16, 2018
WASHINGTON—Global Competition Review has once again named Covington to its 2018 "Global Elite," a list of the top 25 antitrust practices worldwide, as well as including the firm in the list of top ten practices globally for both Mergers and Antitrust Litigation. Each year, GCR undertakes extensive analysis of antitrust and competition law groups in 50 ...
Navigating anti-competition enforcement globally
January 31, 2017, Compliance Week
Michael Fanelli and Kevin Coates are quoted in a Compliance Week article examining how companies are navigating the global enforcement landscape. Commenting on global antitrust investigations, Fanelli says, “[Cooperation] involves a real thorough investigation to show you’re doing everything you can to root out the problem.” Applying for leniency may not always ...
Two Covington Partners on GCR’s Women in Antitrust List
December 2, 2016
LONDON—Global Competition Review has named two Covington partners to its Women in Antitrust list. Now in its fifth year, the report aims to identify and celebrate achievements of elite female antitrust professionals in private practice, as well as expert economists, in-house counsel, enforcers, and academics around the world. Miranda Cole is a partner based in ...
July 13, 2016, Covington Alert
On July 1, 2016, the German Federal Ministry of Economic Affairs and Energy published a proposed draft amendment to the German Act against Restraints of Competition, which would introduce a new merger control notification threshold based on transaction value. The draft (i) introduces a new merger control notification threshold based on transaction value, (ii) ...
Former DG COMP State Aid Official Sophie Bertin Joins Forces With Covington's EU Competition Practice
April 20, 2016
BRUSSELS — Sophie Bertin, a former senior official who served as Head of Unit in the “Financial Crisis” Task Force within the Directorate-General for Competition at the European Commission, has joined forces with Covington’s global antitrust and competition practice. Ms. Bertin will be working with the firm’s Brussels and London offices. At DG COMP, Ms. Bertin ...
Covington Wins ‘Merger Control Matter of the Year’ Award
April 6, 2016
WASHINGTON, DC — Global Competition Review has selected Expedia’s $1.3 billion acquisition of Orbitz Worldwide as its “Merger Control Matter of the Year - Americas” at the GCR Awards 2016. Covington partners Thomas Barnett and Anne Lee served as lead antitrust counsel to Expedia during the transaction. The acquisition triggered a U.S. Department of Justice ...
April 4, 2016
BRUSSELS — Kevin Coates, a former senior official who served as Head of one of the Cartels Units at the Directorate-General for Competition at the European Commission between 2012 and 2016, has joined Covington’s antitrust and competition practice. Over the last 16 years, Mr. Coates has held several senior positions within DG COMP and before that served as ...
Interview with Miranda Cole
February 16, 2016, Competition Law Insight
Miranda Cole is showcased by Competition Law Insight in this feature.
Covington Named to GCR's Global Elite
January 15, 2016
WASHINGTON, DC — Global Competition Review has again named Covington to its 2016 “Global Elite,” a list of the top 25 antitrust practices worldwide. Each year, GCR undertakes extensive analysis of antitrust and competition law groups in 50 jurisdictions around the world. In its profile of the firm, GCR calls Covington’s antitrust and competition practice an ...
December 9, 2015
NEW YORK, December 9, 2015 - Covington advised Grupo P.I. Mabe, the leading producer of hygienic products in Mexico, on its sale to Ontex Group NV, a publicly listed company based in Belgium. The transaction is expected to close in the first quarter of 2016. The transaction will require regulatory approvals in Mexico, the US and certain other countries, and has ...
December 8, 2015
NEW YORK, December 8, 2015 - Covington represented Ascension, the nation’s leading Catholic and non-profit health system, in a $200 million investment transaction with TowerBrook Capital Partners in Accretive Health, a leading provider of revenue cycle management services to healthcare providers. The transaction is expected to close in the first quarter of ...
A year of Vestager
November 5, 2015, Global Competition Review
Johan Ysewyn is quoted in a Global Competition Review article assessing Margrethe Vestager’s first year as European commissioner for competition. According to Ysewyn, “For the first time in quite a long while, [Europe has had] a combination of a commissioner who, I believe, understands the political nuances of competition law, and a director general who actually ...
October 27, 2014, GCR
This article features Andrea Zulli, who recently joined Covington's EU competition group: Zulli, 40, will work mainly in pharmaceuticals and life sciences sectors in his new firm. He says it was a hard decision to leave Norton Rose – where he was local partner – but ultimately he wanted to return to Brussels – “the heart of antitrust in Europe”. “Not only ...
One lateral hire and one return for Covington
April 30, 2014, GCR
Covington partners Peter Camesasca and Johan Ysewyn are featured in the articles above regarding their move to the firm's Brussels office.
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