DOJ and FTC Publish Draft Vertical Merger Guidelines

The US Department of Justice (DOJ) and the Federal Trade Commission (FTC) published draft vertical merger guidelines on January 10, 2020 (the Draft Guidelines). The Draft Guidelines supersede the DOJ’s 1984 Non-Horizontal Merger Guidelines and are intended to be read “in conjunction with the Horizontal Merger Guidelines published by the DOJ and FTC in 2010.”