Antitrust Merger Review

Mergers and acquisitions face increasing regulatory scrutiny. Secretariat’s experts deliver clear, data-driven analysis to assess competitive effects, respond to investigative demands, and support merger litigation when needed. Working closely with counsel and enforcement agencies, we help clients secure approvals and navigate complex merger reviews with confidence.

Mergers and acquisitions are increasingly subject to regulatory scrutiny. Companies navigating these transactions must anticipate competitive concerns, address information requests from authorities, and prepare for potential litigation. Our team provides clients with economic expertise at every stage of the merger review process.

We work with both merging parties and government enforcement agencies, including the U.S. Department of Justice and the Federal Trade Commission. Our professionals assist with pre-deal antitrust risk assessments, post-deal investigations, and litigation involving merger enforcement in domestic and international jurisdictions.

We support clients in complying with second requests and other investigative demands, preparing regulatory submissions, and developing clear and defensible economic analyses. When transactions are challenged, we provide expert testimony on competitive effects. Our work is conducted in close collaboration with legal counsel to ensure effective communication with reviewing authorities.

Our team has extensive experience with both horizontal and vertical merger theories. We are particularly well-versed in the competitive dynamics of bidding markets. Our professionals have presented testimony on market definition, market concentration, critical loss, upward pricing pressure, merger simulation, coordinated effects, and remedy evaluation. We have supported some of the most high-profile and precedent-setting merger matters across a wide range of industries.

Common challenges in antitrust merger reviews include:

  • Heightened regulatory scrutiny from domestic and international enforcement agencies
  • Need to assess competitive concerns early in the transaction timeline
  • Exposure to second requests and other investigative demands during merger review
  • Obligation to prepare and submit detailed economic documentation to regulators
  • Risk of merger investigations escalating into litigation
  • Requirement to respond to complex horizontal and vertical theories of harm
  • Pressure to defend market definitions and demonstrate lack of competitive harm
  • Analytical challenges in industries involving bidding dynamics
  • Demand for clear, defensible economic analysis under strict timelines
  • Need for alignment between legal strategy and economic findings
  • Increased likelihood of precedent-setting scrutiny in high-profile transactions

Our comprehensive merger-related services include:

  • Pre-deal antitrust risk assessment
  • Post-deal merger investigation support
  • Second request compliance
  • Preparation of regulatory submissions
  • Expert testimony in merger litigation
  • Analysis of vertical and horizontal competitive effects
  • Market definition and concentration analysis
  • Critical loss analysis
  • Upward pricing pressure analysis
  • Merger simulation
  • Coordinated effects assessment
  • Evaluation of merger remedies
  • Collaboration with legal counsel to communicate findings to competition authorities

Key Experts

John Morris

Managing Director

+1 202 833 5208

Su Sun

Managing Director

+1 202 833 5216

Keith Waehrer

Managing Director

+1 202 833 5206

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