Transactions in today's highly globalized world are often subject to parallel investigations in different jurisdictions. These parallel reviews create the possibility of divergent, or even conflicting, outcomes. But such divergent outcomes have historically been rare, as U.S. and European Commission (EC) antitrust agencies have collaborated to formulate "an advisory framework for interagency cooperation" in merger investigations. See Best Practices on Cooperation in Merger Investigations, US-EU Merger Working Group. Similarly, U.S. Federal Trade Commission (FTC) and EC regulators have committed to work together through the EU-U.S. Joint Technology Competition Policy Dialogue. And EC and United Kingdom regulatory leaders have called for a formal cooperation agreement between their respective agencies.