US: FTC Announces agenda for fifth session of its 21st Century hearings

The Georgetown event will examine vertical merger analysis and the role of the consumer welfare standard in US antitrust law. See detailed agenda.

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The Commission invites public comment on these issues, including on the questions listed below. Comments can be submitted electronically no later than December 31, 2018.

1. Should the US antitrust agencies publish Vertical Merger Guidelines? What guidance should they provide regarding the assessment of the competitive effects of vertical mergers, including the substantive theories of competitive harm and the treatment of transaction-related efficiencies? Under what conditions, if any, should the guidelines recognize a presumption of anticompetitive harm? What showing should be required to overcome such a presumption? Under what circumstances, if any, should behavioral remedies be accepted to remedy the likely anticompetitive effects of vertical mergers?
2. Is the “consumer welfare standard” the appropriate standard for evaluating compliance with the antitrust laws? What are alternative frameworks with which to evaluate compliance with the antitrust laws? What are their strengths and weaknesses? Is there empirical support for preferring one standard instead of another standard?