Shearman & Sterling advised LyondellBasell Industries N.V. on its merger transaction with A. Schulman, Inc., a company listed on NASDAQ, for $2.25 billion.
Drawing on our vast deal and case experience, Shearman & Sterling has developed this Resources page, which provides a wide array of substantive and practical information on our antitrust and competition practice. Please review some of the informative materials we regularly publish as a value-added service to our clients, as well as information on upcoming events and details of recent activities and newsworthy items.
Various partners and associates of the Antitrust and Litigation teams have been nominated for the Concurrences Antitrust Writing Awards 2018.
Jessica Delbaum, David Higbee, Djordje Petkoski, Wayne Dale Collins and Arjun Chandran are nominated for the article on “The FTC’s Challenge of Red Ventures–Bankrate: Antitrust Risks in Deals Backed by Private Equity Minority Shareholders;” Geert Goeteyn, Elvira Aliende Rodriguez, Susanna Charlwood, Jo Rickard and Ruba Noorali are nominated for the article on “The English High Court Rules in Favour of Air Cargo Defendants Regarding Temporal Scope of Claimants’ Claims;” Matthew Readings, Geert Goeteyn, Elvira Aliende Rodriguez and Ruba Noorali are nominated for the article on “Icap v. Commission: General Court Upholds Cartel Liability of Facilitators, but Attempts to Rein in Commission’s Approach in Settlements;” and James Webber and George Milton are nominated for the article on “EU Court Decides EU Merger Control Can Only Catch Joint Control Transactions If the Resulting Entity Is ‘Full-Function’.”
Shearman & Sterling advised the previous shareholders of MeinAuto GmbH, including Holtzbrinck Ventures GmbH, Global Founders Capital GmbH & Co., Beteiligungs KG Nr. 1, Vorwerk Direct Selling Ventures GmbH and Herrn Nicolas Leutwiler, on the sale of their shares to the U.K. investment firm HgCapital.
Partner Djordje Petkoski (Washington, DC-Antitrust) will participate in a panel on “The Interplay Between Public and Private Cartel Enforcement.” The panel will explore the synergies and competing interests between public and private enforcement.
Partner Geert Goeteyn (Brussels-Antitrust) will speak on “Advising on Merger Control” and participate in the “2nd Grand Panel: The Growing Importance of Compliance – Essential Tips for International and Local Companies” at the 3rd Annual International Arbitration, Regulatory & Compliance Summit organized by Wolters Kluwer in New Delhi, India on March 24, 2018.
Partner Matthew Readings (London-Antitrust), Global Antitrust Practice Group Leader and Head of the Brussels office, will speak at the Securities Industry and Financial Markets Association (SIFMA) Compliance and Legal Society Annual Seminar on March 18-21 in Orlando, Florida. Matthew will share his experiences on the “Global Antitrust Litigation and Investigations” panel, which will be moderated by Mei Lin Kwan-Gett, Deputy General Counsel & Head of Global Litigation at Citigroup. Matthew’s co-panelists include John K. Carroll, partner at Skadden, Arps, Slate, Meagher & Flom; Matthew Fitzwater, Managing Director, Global Head of Litigation at Barclays; Jon Roellke, partner at Morgan, Lewis & Bockius; and Alexander Willscher, partner at Sullivan & Cromwell.
The European Commission has routinely considered potential harm to innovation as part of its merger assessments, particularly in R&D driven sectors such as pharmaceuticals and technology. In recent years, however, the Commission’s traditional innovation concerns have developed into broader, more far-reaching concerns, requiring divestments of assets and R&D related to early stage pipeline products as well as of entire R&D capabilities. Such an approach has been applied most recently in the Commission’s conditional approval of Bayer/Monsanto.
By a decision adopted on 7 March 2018 and published in its Bulletin of 12 March 2018, the Italian Competition Authority has updated the thresholds for merger notification, adjusting them to the inflation rate.
The London Interbank Offered Rate (ICE LIBOR, often referred to colloquially as Libor) is an important interest rate benchmark. It is currently set with reference to the rate at which certain large and financially sound Libor “panel” banks indicate that they can borrow short-term wholesale funds from one another on an unsecured basis in the interbank market. The benchmark is now administered by ICE Benchmark Administration Limited (IBA), which is a regulated benchmark administrator, based in the U.K. Libor was previously administered by the British Bankers’ Association. Various scandals concerning alleged manipulation of the benchmark led to regulation of the activity of its administration and to IBA, an independent subsidiary of Intercontinental Exchange, Inc. (ICE) (a global operator of exchanges and clearing houses and a global data and listings provider) taking on the administrator role.