The U.S. Department of Justice brought an enforcement action against a New York City electricity supplier for entering into a financial derivative contract alleged to have the effect of acquiring its principal rival’s electricity generation capacity. The department and European competition enforcers determined that an arrangement combining the second and third largest Internet search engines could create a viable competitive alternative to the leading search engine and was not likely to reduce competition.
Other recent antitrust developments of note included a decision by a district court dismissing claims that the “reverse payment” settlement of a patent dispute between branded and generic drug companies unlawfully restrained trade and the Justice Department’s decision not to challenge a proposed online subscription news service that would combine various publishers’ content.
Derivative Contracts
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