Deal cops start practically walking the beat

Horizon Therapeutics

08/09/2023 18:14

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Jonathan Guilford
       NEW YORK, Sept 8 (Reuters Breakingviews) - Rebuffed by
court losses, US trustbusters seem almost conciliatory, dropping
lawsuits against drugmaker Amgen’s $28 bln Horizon deal and
ICE’s $12 bln takeover of Black Knight. Hardliners may object,
but imposing tough remedies paves the way for stiff scrutiny
that’s sustainable.
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    CONTEXT NEWS
    The U.S. Federal Trade Commission on Sept. 1 said it had
reached a settlement with pharmaceutical giant Amgen, agreeing
to drop litigation over its $28 billion acquisition of Horizon
Therapeutics. As part of the agreement, Amgen committed not to
force customers to buy the two companies’ products as a bundle.
    On Aug. 31, the FTC secured a settlement with NYSE operator
Intercontinental Exchange over its $12 billion deal for mortgage
technology provider Black Knight, similarly agreeing to cease
litigation. ICE agreed to divest two business lines to win
approval.

 (Editing by Jeffrey Goldfarb and Sharon Lam)
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