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- Home
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- Antitrust / Competition
Ranked among the top antitrust and competition firms in the world, Covington guides clients through the complex web of antitrust and competition laws to help them secure their most important business objectives. Our Antitrust Litigation, Cartel Defense and Investigations, and Antitrust Transactions practices help clients secure their most important business objectives.
Built upon a foundation of unsurpassed regulatory and policy insight from more than 120 former government officials as well as extensive litigation and investigatory experience and corporate deal work, Covington is a one-stop shop for global antitrust and competition concerns.
Regulatory Insight
Describing us as “an antitrust team rich in former senior enforcement officials,” Global Competition Review ranked Covington among the best in the world. With former regulators and enforcement officials among our ranks, we are powerfully equipped to help clients anticipate potential issues, navigate merger reviews efficiently, respond to investigations and enforcement actions effectively, and develop compliance programs to reduce risks proactively. Our team includes:
- five former U.S. Justice Department Antitrust and Criminal Division heads;
- several former EU Parliament and EU Council officials and former ambassadors;
- several former U.S. Federal Trade Commission officials; and
- two former DG Competition Heads of Unit.
Smart, Tough Response to Litigation and Investigations
Citing our “superb trial lawyers and outstanding legal analysts,” Chambers and Partners ranks Covington among the best firms in the world for antitrust and general litigation, and The American Lawyer listed us among its litigation departments of the year. With more than 400 litigators—seven of whom are members of the American College of Trial Lawyers—Covington has decades of experience before U.S. courts, European courts, the EU Commission, and arbitral tribunals around the world.
We also represent clients through the full life cycle of civil and criminal cartel and abuse of dominance investigations, providing seamless management of parallel investigations in multiple jurisdictions and critical insight on agency goals.
Seamless Transaction Support
We assist clients of all sizes in obtaining timely transaction clearances, including complex transactions crossing jurisdictions and markets. From the Exxon/Mobil and Merck/Schering-Plough mergers to Microsoft’s acquisition of Skype, Covington’s antitrust and competition team handles major cases for some of the biggest companies in the world.
Leading Carriers of a Major Container Shipping Alliance in Their Global Strategy
Representing the leading carriers of a major container shipping alliance as they expand, deepen and widen their global cooperation.
King Pharmaceuticals Acquisition by Pfizer
Representation of King Pharmaceuticals in its $3.6 billion acquisition by Pfizer.
Bacardi Transaction
Covington advised Bacardi Limited in its definitive agreement to acquire Patrón Spirits International AG and its PATRÓN® brand, the world’s top-selling ultra-premium tequila, from John Paul DeJoria, a founder of Patrón. The transaction reflects an enterprise value for Patrón of $5.1 billion.
Advising a Global Trade Association on Possible U.S. Claims
Advising a global trade association on possible U.S. State Attorney General claims involving anti-competitive uses of data for analytics and related purposes.
Advise a Multinational Sharing Economy Company
Advise a U.S. multinational “sharing economy” company in responding to a DG COMP RFI.
Advise a Multinational Technology and Ecommerce Company
Advising major American multinational technology and ecommerce company in responding to a DG COMP RFI.
Competition Counsel for Multinational Technology and E-commerce Company
Go-to competition counsel for a major American multinational technology and e-commerce company on its most strategic transactions to date.
Advise a Multinational Sharing Economy Company on Competition Aspects Middle East Acquisition
Advise a U.S. multinational “sharing economy” company on the competition aspects of an acquisition in the Middle East, including the UAE, Egypt, KSA, and Pakistan.
Advise Technology Companies in UK CM Inquiries
Advise major technology companies in connection with inquiries from the UK CMA.
Hapag-Lloyd and United Arab Shipping Company with EU Investigation
Representing Hapag-Lloyd and United Arab Shipping Company in connection with the Container Shipping investigation in the EU.
Bank One and JP Morgan Chase
In securing a stay of antitrust and related class-action claims in deference to arbitration clauses in credit-card agreements. 361 F.Supp. 2d 237 (S.D.N.Y. 2005).
Client in EU Opposing Merger of Two, U.S.-Based Telecom Service Providers
Representation of a client in the EU opposing the merger of two, U.S.-based global telecom service providers -- a matter that involved complex issues under EU competition law.
Client with Obtaining UK Merger Clearance
Representation of a client in connection with obtaining UK merger clearance for the sale of a UK cable business.
Criminal investigations of automotive manufacturers
Represent several Japanese and European manufacturers of automotive parts in investigations of alleged anticompetitive activity.
Defended airline executive in criminal investigations
Represented executives of various airlines in investigations in the air cargo and passenger industries in several jurisdictions.
EU Commission container liner shipping investigation
We represent a major European carrier in the European Commission’s container liner shipping investigation into alleged collusion/abuse of dominance.
EU Commission defense of Microsoft's Skype acquisition
Represented Microsoft in connection with Cisco’s appeal against the European Commission’s decision to approve Microsoft’s acquisition of Skype.
European counseling on distribution
We have significant experience advising clients on all aspects of their European commercialization networks, including the design and operation of exclusive and selective distribution systems, pricing/rebates, sales and rental channels, supply chain management, customer loyalty programs, dealer financing, central warehousing, consumer warranties, dealer termination, etc.
EU investigation regarding abusive search related conduct
Representation of Microsoft, Expedia, and Trip Advisor in the U.S. and Europe in connection with investigations regarding Google’s abusive search-related conduct.
Hatch-Waxman settlement investigation and class action
AstraZeneca in an FTC investigation and private antitrust class action litigation concerning settlements of Hatch-Waxman patent litigation involving Nexium.
Microsoft’s EUR 5.44 Billion Nokia Transaction
Representation of Microsoft Corp. in its purchase of substantially all of Nokia’s devices & services business and licensing of Nokia’s patents. Covington advised on IP, commercial and regulatory matters on the transaction.
AstraZeneca Transactions
Representation of AstraZeneca in relation to the creation of a $3.4 billion diabetes joint venture with BMS, and the subsequent acquisition of sole control over that venture; in its acquisition of the rights to Almirall’s respiratory franchise (for initial consideration of $875 million and up to $1.22 billion in development, launch and sales-related milestones); assisting in the acquisition of the Takeda respiratory portfolio; and in relation to the creation of an oncology joint venture with Fujifilm Kyowa Kirin Biologics (FKB).
Sanofi/Verily Life Sciences Transaction
Representation of Sanofi in connection with obtaining clearances from the European Commission and in China, Korea, Switzerland, Taiwan, Turkey and Ukraine for its collaboration with Google Life Sciences, Inc., now Verily, relating to diabetes management products and services.
Qualcomm/CSR Transaction
Representation of Qualcomm in connection with its acquisition of CSR plc, with filings in China, Germany, Japan, Korea and Taiwan.
Verizon Communications Transactions
Representation of Verizon Communications in several transactions, including its $3.89 billion acquisition of AOL. Also advised the company in connection with its purchase of UK-based Vodafone’s 45 percent ownership of Verizon Wireless, as well as Vodafone’s purchase of Verizon’s interest in Vodafone Italy, which was valued at $124.1 billion.
Joy Global Transactions
Advised Joy Global in connection with several transactions, including its acquisition of LeTourneau Technologies from Rowan Companies and its sale of LeTourneau’s drilling systems and offshore products businesses to Cameron International.
Communications and Media Joint Ventures
Counseling for joint ventures for a variety of clients in media and communications, including cable channel ventures, joint ventures for video programming and content, and satellite, wireless, and broadcast joint ventures.
Electronic Arts in its Acquisition of 19.9% Stake in Ubisoft Entertainment
Representation of Electronic Arts in its acquisition of a 19.9% stake in French game company Ubisoft Entertainment, in a transaction requiring the participation of multiple Covington offices on various corporate, antitrust and international issues.
Tencent in $8.6 Billion Acquisition of Clash of Clans Developer
Represented Tencent Holdings Limited in its $8.6 billion acquisition of a majority stake in Supercell Oy, developer of Clash of Clans, Clash Royale, Boom Beach and Hay Day, from SoftBank.
Microsoft Transactions
Representation of Microsoft Corp. in its $8.5 billion acquisition of Skype Communications S.à.r.l., the largest acquisition in the company’s history, in connection with its $4.5 billion acquisition of certain Nortel patents, in its $7.2 billion acquisition of the handset division of Nokia, and its $2.5 billion acquisition of Mojang, the developer of Minecraft.
Represent Microsoft in anticompetitive patent complaint against Motorola Mobility
Representation of Microsoft in connection with its complaint regarding the anticompetitive patent licensing practices of Motorola Mobility.
Represented electronics manufacturer in EU DRAM investigation
Represented a global electronics manufacturer in the European investigation into alleged collusion in DRAM.
Represented electronics manufacturer in EU TFT-LCD investigations
Represented a global electronics manufacturer concerning all aspects of the European investigation into alleged collusion in TFT-LCD (1&2).
Representation of De Persgroep
Acted for De Persgroep as a complaining third party in the Mediahuis merger. The case was unprecedented as it resulted in a 3 to 2 merger in the newspaper sector. The merger was conditionally cleared by the new Belgian competition authority.
Michelin Transaction
Representing Michelin in its acquisition of IHLE Holding AG. The transaction involved six national European merger notifications, namely in France, Germany, Austria, Hungary, Romania, and the Czech Republic. This was the first time that an upstream tire manufacturer and supplier took control over a wholesale tire distributor in Europe creating substantial questions about the effects of this vertical integration.
Advise Online Service Provider with Their Complaints to the European Commission
Advise major online service provider in connection with their complaints to the European Commission regarding Google’s conduct in search and related markets.
Facebook Transactions
Representation of Facebook, Inc. in many transactions, including its $22 billion acquisition of WhatsApp, $2 billion acquisition of Oculus, and $1 billion acquisition of Instagram.
Amyris Representation in Europe
Represent Amyris, Inc. regarding antitrust and competition law, EU chemicals regulations (including “REACH”) and other European distribution arrangements and other areas where we have specialized expertise.
January 2021
Recapture of Excess COVID-19 Payroll Tax Credits Addressed in New Regs As the legal, regulatory, and commercial implications of coronavirus COVID-19 continue to evolve, our lawyers and advisors are helping clients navigate the complex considerations that companies around the world are facing and develop plans and strategies in response. Reach out to our ...
January 2021, Covington Guide
The EU-UK Trade and Cooperation Agreement (EUTCA) reached on December 24th is a wide-ranging and complex agreement. Our Brexit Task Force offers these "bite-sized" recordings to give a snapshot of what you need to know in each area. Though the EUTCA provides the overall architecture of the future relationship in a number of areas, much of the detail must still ...
December 14, 2020, Covington Alert
The UK Supreme Court has ruled in favour of Walter Merricks, the former head of the UK Financial Ombudsman Service, in a hotly-anticipated judgment in the first opt-out competition class action brought in the UK. Background Mr Merricks is the proposed class representative for 46.2 million people who, between 22 May 1992 and 21 June 2008, purchased goods and/or ...
Leniency survey drives further discussion on how to boost applications, EU official says
December 11, 2020, Global Competition Review
Johan Ysewyn spoke with Global Competition Review about Covington’s survey on leniency and immunity applications in the EU. Mr. Ysewyn says the survey shows that “something needs to be done to improve the attractiveness of the EU’s immunity regime.” The survey, which ran between December 2019 and March 2020, received 98 responses, including 37 from competition ...
Mastercard Loses $18.6 Billion Class Action Court Ruling
December 11, 2020, Bloomberg
Louise Freeman spoke with Bloomberg about the UK Supreme Court’s class action case against Mastercard over illegal swipe fees. Ms. Freeman says the ruling paves the way for further consumer class-action lawsuits, which were made possible by a 2015 law change, but have struggled to gain traction. The ruling means “it is not the job of the Competition Appeal ...
October 16, 2020, Politico
Kevin Coates spoke with Politico about a move unveiled by the U.S. Secretary of State demanding greater foreign funding disclosure. Mr. Coates described the move as “Partly right, partly wrong.” Right that “think tanks disclose foreign governments. Wrong that it doesn’t also cover think tanks disclosing all funding, foreign and domestic, state and private. ...
July 16, 2020, Covington Alert
On July 16, 2020, the European Commission (“Commission”) announced that it has launched an antitrust sector inquiry into "consumer-related products and services that are connected to a network and can be controlled at a distance, for example via a voice assistant or mobile device."
July 6, 2020
BRUSSELS—Covington advised airBaltic on the notification to the European Commission of a €250 million recapitalization by the Latvian government. The measure was approved today under the EU’s Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak. In the second quarter of 2020, Member States and non-EU countries ...
Germany flexes its muscles on foreign investment
June 25, 2020, Financial Times
Horst Henschen is quoted in the Financial Times regarding Germany’s investment into CureVac, a biopharmaceutical company attempting to find a COVID-19 vaccine. Mr. Henschen says, “Kuka was the trigger, but it’s a general policy shift. Ten years ago, Germany, an export country, was very much for globalization and no one thought of introducing hurdles. The shift ...
UK expands public interest merger review powers
June 22, 2020, Global Competition Review
James Marshall spoke with Global Competition Review about a new law in the UK that will review and block foreign takeovers that would otherwise threaten its ability to deal with public health emergencies. Mr. Marshall says the proposals “reflect a rapid uptick in foreign investment control across Europe” since the start of the coronavirus pandemic.
June 18, 2020, Global Competition Review
Horst Henschen and Peter Camesasca spoke with Global Competition Review about the European Union’s new tools to address competitive distortion. Mr. Henschen says the supervisory authority will have “very broad powers to intervene.” The idea that the commission should be the competent supervisory authority may also “lead to a lively debate.” Mr. Camesasca says ...
Europe Takes Steps to Block Chinese Bargain Hunters
June 17, 2020, New York Times
Horst Henschen spoke with the New York Times about Europe’s plan to keep Chinese-backed companies from acquiring cheap assets during the COVID-19 pandemic. Mr. Henschen says the measures would give European officials “very broad powers.”
Spring 2020, Covington Guide
As businesses across Europe prepare to reopen following the COVID-19 lockdown, Covington is providing practical resources and guidance on the broad array of issues companies face as employees return to the workplace, including employment, privacy, competition, policy, environmental and regulatory considerations at the EU level, with a focus on Germany and the ...
Vestager refuses to pause state aid rules
May 1, 2020, Global Competition Review
Johan Ysewyn spoke with Global Competition Review about EU competition commissioner Margrethe Vestager’s request to suspend European state aid rules during the coronavirus pandemic. Mr. Ysewyn says there was a similar “knee-jerk reaction during the financial crisis in 2008 from member states,” but the idea was quickly discarded. As in the financial crisis, the ...
April 14, 2020, Juve
Horst Henschen is quoted in Juve regarding the German government’s move to tighten controls of foreign direct investment in the wake of the COVID-19 pandemic. Mr. Henschen says, “The criticism from the economy is partially understandable, especially with regard to the enforcement ban for the acquisition of companies in critical infrastructures. In contrast to ...
March 31, 2020
LONDON—James Marshall has joined Covington’s Competition Practice in London as a partner. Mr. Marshall advises on all aspects of competition law and sector regulation and regularly counsels clients on merger control, investigations, commercial deals, abuse of dominance, and compliance. He is recommended by Legal 500 in multiple categories and is recognized as a ...
January 31, 2020, Covington Alert
This evening, at 11:00 p.m. GMT, the UK will leave the European Union. Brexit day marks a beginning, not an end. The UK today embarks on a complex process of negotiating new arrangements for trade and cooperation with the EU and partners around the world. Regulatory divergence seems inevitable, given that the UK will want to make its own decisions on existing ...
Covington Named to GCR's Global Elite
January 23, 2020
WASHINGTON—Global Competition Review has once again named Covington to its 2019 "Global Elite," a list of the top 25 firms practicing competition law internationally, as well as including the firm in the list of top ten antitrust litigation practices globally. Now in its 20th year, GCR100 undertakes extensive analysis of antitrust and competition law groups in ...
BBC News: 4/17/2019
April 17, 2019, BBC News
Louise Freeman was interview by BBC News regarding the Mastercard Competition Appeals Tribunal class action case. She spoke about the potential damages payouts to individuals affected by the case.
April 16, 2019, Financial Times
Louise Freeman is quoted in the Financial Times regarding a class action suit against Mastercard. Ms. Freeman said the Court of Appeal has “sent a clear signal” that the tribunal has set the bar too high in assessing whether the mass claim should proceed.
April 16, 2019, Commercial Dispute Resolution
Louise Freeman spoke with Commercial Dispute Resolution about the Competition Appeal Tribunal class action case against Mastercard. Ms. Freeman says the Court of Appeal has sent “a clear signal that the CAT applied too high a bar in its assessment of the application for a CPO”, which will “impact the assessment of both this application when it returns to the CAT ...
April 16, 2019, Global Competition Review
Louise Freeman spoke with Global Competition Review regarding the class action UK Competition Appeal Tribunal case against Mastercard. Ms. Freeman said the appellate court has sent a clear signal that the CAT applied too high a bar in its assessment of the application for a collective proceedings order. She adds, this will not only affect the assessment of this ...
March 11, 2019, Covington Alert
This alert summarizes the major antitrust/competition developments in 2018 and offers a view on what to expect in 2019 in the U.S., EU and China.
January 17, 2019, Juve
Juve covered the arrival of Horst Henschen as a member of the firm’s Antitrust practice in Frankfurt. Juve called Covington “a respected player in merger and antitrust investigations in both the US and Brussels” and highlighted Mr. Henschen as “well connected in the antitrust scene in Frankfurt.”
Study reveals leniency applications have not dropped
October 17, 2018, Global Competition Review
Global Competition Review featured the results of a joint survey conducted by Covington and the Brussels School of Competition on immunity and leniency applications. The survey revealed the majority of competition experts questioned did not see a decline in leniency applications in the past five years, and more than 60 percent expect the overall success of the ...
August 9, 2018
WASHINGTON—Covington advised Emergent BioSolutions in its $270 million acquisition of PaxVax. PaxVax is majority owned by an affiliate of Cerberus Capital Management. Emergent is a global life sciences company focusing on providing specialty products for civilian and military populations that address public health threats. PaxVax is a company focused on ...
August 8, 2018, Covington Alert
The UK Payment Systems Regulator (PSR) announced on 24 July 2018 its intention to carry out a market review into the supply of card-acquiring services.
August 2, 2018, e-Competitions Bulletin Leniency, Art. N° 72355
July 30, 2018
SILICON VALLEY—Covington advised GlaxoSmithKline on its multi-year collaboration with and $300 million equity investment in 23andMe. GSK will become 23andMe’s exclusive collaborator for drug target discovery programs. The collaboration will focus on research and development of innovative new medicines and potential cures using human genetics as the basis for ...
June 26, 2018, Covington Alert
On June 21, 2018, the European Commission (“Commission”) started a new investigation to determine whether so-called destination clauses in Qatar Petroleum’s liquefied natural gas (“LNG”) supply contracts with European buyers infringe the European Union (“EU”) antitrust rules.
May 1, 2018
WASHINGTON—Covington advised Elbit Systems Ltd. in its $120 million acquisition of the assets and operations of the privately owned U.S. company, Universal Avionics Systems. Elbit Systems is an international high technology company engaged in a wide range of defense, homeland security, and commercial programs throughout the world. Universal Avionics is a ...
Does the EU competition watchdog need a shorter lead?
March 12, 2018, The Times
Andrea Zulli is quoted by The Times in an article regarding action taken by UPS to sue the EU's antitrust watchdog for blocking its merger with TNT Express. According to Zulli, the European Commission is “highly competent” in its merger reviews. “However, it would be a welcome move if the ECJ confirmed the General Court’s judgment in the UPS case. It is key for ...
February 2018, Competition Law & Policy Debate
FCA's anti-competitive scrutiny is here to stay
January 25, 2018, Behavox
Louise Freeman is quoted in a Behavox article regarding the UK Financial Conduct Authority's (FCA) statement of objections to four asset management firms, signifying the first time the FCA has used its competition enforcement powers. According to Freeman, firms should expect further scrutiny, and to prepare accordingly. “They started with a very wide asset ...
January 22, 2018
WASHINGTON—Covington advised Bacardi Limited in its definitive agreement to acquire Patrón Spirits International AG and its PATRÓN® brand, the world’s top-selling ultra-premium tequila, from John Paul DeJoria, a founder of Patrón. The transaction reflects an enterprise value for Patrón of $5.1 billion. The transaction follows the successful relationship the ...
Covington Named to GCR's Global Elite
January 16, 2018
WASHINGTON—Global Competition Review has once again named Covington to its 2018 "Global Elite," a list of the top 25 antitrust practices worldwide, as well as including the firm in the list of top ten practices globally for both Mergers and Antitrust Litigation. Each year, GCR undertakes extensive analysis of antitrust and competition law groups in 50 ...
January 9, 2018, Covington Alert
2017 was another year of active enforcement globally—including in the U.S., despite the start of a new Presidential Administration touting an aggressive deregulatory agenda. Transactions in consolidated industries drew enforcement fire in both Europe and the United States (Dow/DuPont, ChemChina/Syngenta, Bayer/Monsanto, AT&T/TimeWarner). And, in March, the UK ...
December 26, 2017
SILICON VALLEY—The Financial Times has recognized Covington among the most innovative firms in 2017 in the category of "Enabling Business Growth," for advising "Tencent in its acquisition of a $8.6bn majority stake in Supercell, the Finnish gaming company, while maintaining Supercell’s creative culture and retaining its employees by introducing incentive ...
December 7, 2017, Covington Alert
On 6 December 2017, the Court of Justice of European Union (CJEU) issued its long-awaited Judgment in Coty Germany GmbH v Parfümerie Akzente GmbH. Taking an approach similar to that adopted by Advocate General (AG) Wahl in his Opinion in July, the CJEU found that a supplier of luxury goods may prevent its authorised retailers from using third-party platforms in ...
November 22, 2017, PaRR
Johan Ysewyn is quoted in a PaRR article examining whether the recent judgment in the Intel case will impact future cartel cases. While Ysewyn does not expect the Intel decision to be a “game-changer” in how cartel proceedings are conducted going forward, “it’s not bad for the Commission to be reminded what the rules are.”
November 10, 2017
BRUSSELS—Politico has named Covington partner Miranda Cole to its “2017 Women Who Shape Brussels” list, a group of “20 powerhouses driving debates and influencing policy in 2017.” In its profile of Ms. Cole, the publication highlights her defense of leading technology clients, including Microsoft, Facebook, and Verizon, before the European Commission. Politico ...
October 23, 2017
BRUSSELS—Covington was named “Best Competition and Antitrust Law Firm” at the Belgian Legal Awards 2017. Covington has advised on a number of high-profile matters subject to competition issues or inquiries. These include significant matters for Belgian and international clients in a series of Belgian and European merger control, cartel defense, abuse of ...
September 26, 2017, The Pink Sheet
A blog post by Miranda Cole is referenced in a Pink Sheet article regarding the Advocate General's Opinion in Hoffmann-La Roche vs Autorità Garante della Concurrenza e del Mercato. Cole write, if the opinion was followed by the full court it could have "significant implications for market definition in relation to pharmaceutical products, and potentially for ...
September 21, 2017, Covington Alert
On September 14, 2017, the Financial Conduct Authority (FCA) confirmed that it was making a Market Investigation Reference (MIR) to the Competition and Markets Authority (CMA) in relation to services for investment consultancy and fiduciary management. This is the first time the FCA, which has significant numbers of competition lawyers within its ranks, has ...
Intel wins review of EU's euro 1bn antitrust fine
September 6, 2017, Financial Times
Kevin Coates is quoted in a Financial Times article regarding the CJEU's judgment in the Intel case where the higher court sent the case back to the general court. According to Coates, "It is more a criticism of the general court for not looking at the whole decision but only looking at a part of it."
EU Intel decision bolsters tech cos.' antitrust defences
September 6, 2017, Law360
Kevin Coates is quoted in a Law360 article regarding the CJEU's decision to send a €1.06 billion abuse-of-dominance fine imposed on Intel back to the lower court for another look. According to Coates, the high court’s decision was more of a criticism of the lower court’s handling of the case than of the commission’s conclusions about the rebates. “It’s really ...
September 6, 2017, PaRR
Kevin Coates is quoted in a PaRR article regarding the CJEU's decision in the Intel abuse-of-dominance case. According to Coates, “When a court says the case law needs clarifying, they are moving on a little." He adds that the CJEU is “moving the dial incrementally” in favour of more economic analysis as compared to the traditional case law of the court going ...
Intel verdict opens door to antitrust economists
September 6, 2017, Politico
Kevin Coates is quoted in a Politico article regarding the CJEU's long-awaited judgment in the Intel case. According to Coates, “It seems to clarify the case law in the direction of more economic analysis."
September 6, 2017, Global Competition Review
Kevin Coates is quoted in a Global Competition Review article regarding the CJEU's judgment in the Intel abuse-of-dominance case, which now returns to the general court. According to Coates, the ruling incrementally moves the case law, requiring the enforcer to apply the AEC analysis if the defendant brings evidence forward in the administrative procedure, but ...
Covington Advises Aristocrat in Acquisition of Plarium and Related Acquisition Financing
August 15, 2017
WASHINGTON—Covington, together with Israeli-based law firm Allens and Herzog Fox & Neeman, is representing Aristocrat Leisure Limited, a leading provider of gaming solutions, in its acquisition of Plarium Global Limited and the related acquisition financing. Aristocrat will make an upfront cash payment of $500 million plus earn-out payments based on Plarium’s ...
August 10, 2017
NEW YORK—Covington is representing IFM Therapeutics in its sale to Bristol Myers Squibb for $300 million in cash and the right to receive contingent payments upon achievement of specified milestones that could total in excess of $1 billion for each of its two oncology programs. Prior to closing, IFM will spin off its inflammation program to a newly-formed ...
July 14, 2017
BRUSSELS—Covington successfully represented the Belgian State in a state aid investigation, raising a series of previously unexplored issues. The European Commission final decision adopted a novel approach to the Market Economy Investor principle, to the establishment of the relevant market benchmark, and to calculating the comparable market price in such a ...
July 12, 2017
LONDON—Covington is advising Central European Media Enterprises Ltd. (CME) on the sale of its broadcast operations in Croatia and Slovenia to Slovenia Broadband S.à r.l for approximately $262.2 million. The transaction is expected to close by the end of 2017. CME is a NASDAQ-listed media and entertainment company operating leading businesses in six Central and ...
June 16, 2017
LONDON—Euromoney Legal Media Group has selected three Covington lawyers for its annual “Europe Women in Business Law Awards.” The awards honor women in the legal sector across Europe. The Covington lawyers recognized are: Louise Nash, Best in Mergers & Acquisitions. Ms. Nash focuses on M&A and other transactional matters for clients in the consumer brands, ...
April 7, 2017, Covington Alert
The UK’s Competition Appeal Tribunal (the “CAT”) has handed down its first class certification judgment in relation to the class actions regime introduced by the Consumer Rights Act 2015 (the “Act”). The result? The hearing has been adjourned, with the proposed representative allowed to file and serve an amended Claim Form and revised expert evidence, if so ...
Springing forward into a bright future
March 1, 2017, Commercial Dispute Resolution
Elaine Whiteford and Louise Freeman spoke at Commercial Dispute Resolution’s second Spring Competition Litigation Symposium on the EU Damages Directive and are mentioned in an article providing highlights from the event. According to Freeman, lawyers should enable economists to give the best evidence they can, emphasizing that the same lawyers should completely ...
Confessions of a Scuba Diver
February 14, 2017, Competition Law Insight
Andrea Zulli discusses his career, interests, and competition law in an interview with Competition Law Insight.
Navigating anti-competition enforcement globally
January 31, 2017, Compliance Week
Michael Fanelli and Kevin Coates are quoted in a Compliance Week article examining how companies are navigating the global enforcement landscape. Commenting on global antitrust investigations, Fanelli says, “[Cooperation] involves a real thorough investigation to show you’re doing everything you can to root out the problem.” Applying for leniency may not always ...
January 19, 2017, The Litigation Daily
The Litigation Daily highlights a recent client alert on competition law enforcement trends by Johan Ysewyn, Thomas Barnett, and Deborah Garza. Under President Trump, Covington lawyers "expect enforcement policy to shift back to a more traditional conservative approach similar to that of the George W. Bush administration. We will also be watching the extent to ...
January 18, 2017, Covington Alert
2016 was another year of active enforcement globally. It was also a year of big changes of uncertain impact. June saw the dramatic vote by the United Kingdom to withdraw from the European Union—a development which we do not expect will have concrete antitrust implications in 2017, given that the UK government has not yet formally started the “Brexit process,” ...
Covington makes KWM competition hire
January 17, 2017, Global Competition Review
Louise Freeman and Johan Ysewyn are quoted in a Global Competition Review article regarding Freeman’s arrival to the firm’s European Dispute Resolution practice. According to Freeman, Covington is an exciting firm to join – especially as the firm is “expanding at a phenomenal rate.” She adds, “It’s going to be great fun educating the London market on what is ...
2 Disputes Lawyers Move To Covington Amid KWM Collapse
January 17, 2017, Law360
Alex Leitch and Jeremy Wilson are quoted in a Law360 article regarding the arrival of Craig Pollack and Louise Freeman to the firm’s European Dispute Resolution practice. According to Leitch and Wilson, “The firm’s growing footprint in London is a reflection of client demand that is fueled by the increasingly challenging regulatory and compliance environment, ...
EU to pay damages in first excessive length case
January 10, 2017, Global Competition Review
Johan Ysewyn is quoted in a Global Competition Review article regarding the EU General Court’s ruling ordering the EU to pay damages to Gascogne after finding that the court breached the company’s right to adjudication within a reasonable period. According to Ysewyn, despite the “precedent-setting” verdict, the General Court “gave itself an escape route by ...
December 16, 2016, Covington Alert
After a wait of nearly 15 months from the introduction of class actions in the UK for antitrust damages claims, the first class certification hearing took place before the UK’s Competition Appeal Tribunal (the “CAT”) between December 12 and 14.
Two Covington Partners on GCR’s Women in Antitrust List
December 2, 2016
LONDON—Global Competition Review has named two Covington partners to its Women in Antitrust list. Now in its fifth year, the report aims to identify and celebrate achievements of elite female antitrust professionals in private practice, as well as expert economists, in-house counsel, enforcers, and academics around the world. Miranda Cole is a partner based in ...
October 21, 2016
WASHINGTON—Covington represented India-based Piramal Enterprises and its wholly owned Critical Care subsidiary in the UK in the acquisition of five anesthesia and pain management injectable products from Janssen Pharmaceutica NV, in an all cash deal for an upfront consideration of US$155 million, and up to an additional US$20 million. The products to be acquired ...
The European Commission's Preliminary Report and Public Conference on the E-commerce Sector Inquiry
October 19, 2016, Covington Alert
On September 15, 2016, the European Commission published its Preliminary Report on the ongoing e-commerce sector inquiry. The report is based on the input from nearly 1,800 companies operating in e-commerce of consumer goods and digital content and has analyzed around 8,000 distribution contracts. The report confirms the fast growth of e-commerce in the EU and ...
September 12, 2016, Covington Alert
The General Court (the “GC” or the “Court”) delivered its judgment in the Lundbeck ‘pay-for-delay’ case last Thursday (Case T-472/13 Lundbeck v Commission). In its judgment, the GC confirms the European Commission (the “Commission”)’s decision (the “Decision”), namely that the agreements between Lundbeck and the generic producers (Merck KGaA/Generics UK (“GUK”), ...
Interview with Kevin Coates
July 26, 2016, Competition Law Insight
Kevin Coates discusses his career highlights and the legal landscape in this interview with Competition Law Insight.
July 20, 2016, Global Competition Review
Kevin Coates participated in the American Bar Association’s criminal antitrust conference and is quoted in a GCR article regarding the effects of Brexit on antitrust. According to Coates, the effects of Brexit on competition law will only be felt if the United Kingdom decides it wants an economic relationship with the European Union different from one created by ...
EC truck cartel case signals policy change- ABA event
July 19, 2016, PaRR
Kevin Coates spoke at an American Bar Association webinar entitled “Cartel and Criminal Practice Update” and is quoted in a PaRR article regarding the significance of the European Commission’s July truck cartel decision. According to Coates, this is the first case in which the EC issued a normal procedure statement of objections (SO) to parties, and then agreed ...
July 13, 2016, Covington Alert
On July 1, 2016, the German Federal Ministry of Economic Affairs and Energy published a proposed draft amendment to the German Act against Restraints of Competition, which would introduce a new merger control notification threshold based on transaction value. The draft (i) introduces a new merger control notification threshold based on transaction value, (ii) ...
Covington Continues Expansion of European Capabilities
June 30, 2016
BRUSSELS—With the latest addition of Ambassador Péter Balás, Covington has further enhanced its global Antitrust and Competition and Public Policy and Government Affairs practices. The firm’s strategic growth in Europe includes the addition of the following professionals in recent months: Ambassador Péter Balás, the former Deputy Director-General of DG ...
UK Tax Code Could Entice Companies
June 29, 2016, The Wall Street Journal
Johan Ysewyn is quoted in a Wall Street Journal article regarding the possibility that the UK could alter its tax code to entice businesses following the Brexit vote. According to Ysewyn, “The temptation will be very high to bail out of the EU state aid rules…It would be nice [for the UK] not to have to deal with the whole Brussels layer.”
Covington Represents Tencent in $8.6 Billion Acquisition
June 21, 2016
SILICON VALLEY—Covington advised Tencent Holdings Limited, a leading provider of internet service in China, in connection with its acquisition of a majority stake in Supercell from SoftBank. A consortium established by Tencent will acquire up to 84% of Supercell for $8.6 billion in a transaction valuing Supercell at approximately $10.2 billion. Supercell is a ...
Former DG COMP State Aid Official Sophie Bertin Joins Forces With Covington's EU Competition Practice
April 20, 2016
BRUSSELS — Sophie Bertin, a former senior official who served as Head of Unit in the “Financial Crisis” Task Force within the Directorate-General for Competition at the European Commission, has joined forces with Covington’s global antitrust and competition practice. Ms. Bertin will be working with the firm’s Brussels and London offices. At DG COMP, Ms. Bertin ...
Covington Wins ‘Merger Control Matter of the Year’ Award
April 6, 2016
WASHINGTON, DC — Global Competition Review has selected Expedia’s $1.3 billion acquisition of Orbitz Worldwide as its “Merger Control Matter of the Year - Americas” at the GCR Awards 2016. Covington partners Thomas Barnett and Anne Lee served as lead antitrust counsel to Expedia during the transaction. The acquisition triggered a U.S. Department of Justice ...
April 4, 2016
BRUSSELS — Kevin Coates, a former senior official who served as Head of one of the Cartels Units at the Directorate-General for Competition at the European Commission between 2012 and 2016, has joined Covington’s antitrust and competition practice. Over the last 16 years, Mr. Coates has held several senior positions within DG COMP and before that served as ...
Covington hires EU cartel enforcer Coates
April 4, 2016, Global Competition Review
Kevin Coates, Johan Ysewyn and Deborah Garza are quoted in this GCR article announcing the arrival of Coates as a partner in the firm’s European competition practice.
An interview with Peter Camesasca
March 31, 2016, Global Competition Review
Peter Camesasca discusses private cartel actions in the European Union in this interview with GCR.
Société Générale drops Euribor appeal
March 11, 2016, Global Competition Review
Johan Ysewyn is quoted in this GCR article covering Société Générale’s decision to drop its appeal after the European Commission agreed to reduce the penalty. According to Ysewyn, “If the reduction is substantial, the danger is that, in the future, this would be read as a precedent by other companies who settle and would try their luck in court.”
First opt-out class action launched in the UK
March 8, 2016, Global Competition Review
Alex Leitch and Kenny Henderson are quoted in this GCR article discussing the launch of the first opt-out class action in the UK. According to Leitch, “If the case is not settled and the class is granted a collective proceedings order, this will be the trickle that may form into a steady flowing stream.” He continues by stating that the class seems to be ...
Competition: raising the anti
February 22, 2016, The Law Society Gazette
Johan Ysewyn is quoted by The Law Society Gazette in an article discussing changes in competition policy and enforcement, and what these changes mean for lawyers. “The commission likes its fines, but I think it takes a balanced view that it also likes companies changing their trading behaviour,” says Ysewyn. Ysewyn continues by commenting on the changing nature ...
Interview with Miranda Cole
February 16, 2016, Competition Law Insight
Miranda Cole is showcased by Competition Law Insight in this feature.
European court confirms GIS cartel fines
January 19, 2016, Global Competition Review
Johan Ysewyn is quoted in this GCR article discussing the recent judgments released by the European General Court, upholding penalties against Mitsubishi and Toshiba. According to Ysewyn, the case is an “illustration of the delicate and very complex fining issues facing the European Commission when companies change corporate structures in the course of a cartel.”
Covington Named to GCR's Global Elite
January 15, 2016
WASHINGTON, DC — Global Competition Review has again named Covington to its 2016 “Global Elite,” a list of the top 25 antitrust practices worldwide. Each year, GCR undertakes extensive analysis of antitrust and competition law groups in 50 jurisdictions around the world. In its profile of the firm, GCR calls Covington’s antitrust and competition practice an ...
Antitrust Enforcement Trends in the U.S., Europe and China: Looking Back at 2015 and Ahead to 2016
January 8, 2016, Covington Alert
December 9, 2015
NEW YORK, December 9, 2015 - Covington advised Grupo P.I. Mabe, the leading producer of hygienic products in Mexico, on its sale to Ontex Group NV, a publicly listed company based in Belgium. The transaction is expected to close in the first quarter of 2016. The transaction will require regulatory approvals in Mexico, the US and certain other countries, and has ...
December 8, 2015
NEW YORK, December 8, 2015 - Covington represented Ascension, the nation’s leading Catholic and non-profit health system, in a $200 million investment transaction with TowerBrook Capital Partners in Accretive Health, a leading provider of revenue cycle management services to healthcare providers. The transaction is expected to close in the first quarter of ...
Media Roundtable with Brick Court Chambers
November 16, 2015
Covington hosted a media roundtable with Brick Court Chambers to discuss the UK class action regime, and the effect of rule 119 of the Competition Appeal Tribunal’s provision. The Times of London and Global Competition Review covered the discussion. According to Alex Leitch, either “judicial common sense” would prevail to find a way round the limitation period ...
Belgium reveals leniency guidelines update
November 11, 2015, Global Competition Review
Johan Ysewyn is quoted in a Global Competition Review article discussing Belgium’s Competition Authority’s draft leniency guidelines that have been launched for public consultation. Ysewyn, who welcomed the guidelines, said the new draft policy is “definitely workable.” “Awarding natural persons being granted immunity regardless of the position in which they ...
A year of Vestager
November 5, 2015, Global Competition Review
Johan Ysewyn is quoted in a Global Competition Review article assessing Margrethe Vestager’s first year as European commissioner for competition. According to Ysewyn, “For the first time in quite a long while, [Europe has had] a combination of a commissioner who, I believe, understands the political nuances of competition law, and a director general who actually ...
October 1, 2015, Covington Alert
September 14, 2015, Journal of European Competition Law & Practice
European Union: Pharmaceuticals
August 2015, An Extract from The European Antitrust Review 2016
Court upholds Commission’s global reach on cartels
July 16, 2015, Politico
Quoting Peter Camesasca regarding the Innolux judgment.
July 9, 2015, Global Competition Review
Quoting Peter Camesasca regarding the Innolux judgment.
Price signalling - the final frontier?
July 2015, Competition Law Insight
Covington's Johan Ysewyn and Jiwon Choi wrote this Competition Law Insight piece.
Covington Snags Ex-Norton Rose Fulbright Antitrust Chief
October 28, 2014, Law360
Andrea Zulli is featured in this article regarding his move to Covington: "Andrea Zulli, who will join Covington's EU competition group as of counsel, advises clients in all aspects of EU, international and Italian competition law, including merger control, cartels and other restrictive practices, antitrust compliance and abuses of a dominant position." “The ...
October 27, 2014, GCR
This article features Andrea Zulli, who recently joined Covington's EU competition group: Zulli, 40, will work mainly in pharmaceuticals and life sciences sectors in his new firm. He says it was a hard decision to leave Norton Rose – where he was local partner – but ultimately he wanted to return to Brussels – “the heart of antitrust in Europe”. “Not only ...
One lateral hire and one return for Covington
April 30, 2014, GCR
Covington partners Peter Camesasca and Johan Ysewyn are featured in the articles above regarding their move to the firm's Brussels office.
2013, Competition Law Insight
Increasing interim measure use stirs consequences debate
PaRR
Johan Ysewyn spoke with PaRR about interim measures in antitrust cases in Europe. Mr. Ysewyn is skeptical of the French measures, saying it appears to be a policy matter that has been “dressed up” in competition law concepts. He warns that the Belgians swift approach should not be held as an example as there is insufficient time for a “decent debate on whether ...
- Law360, Competition/Antitrust Group Of The Year (2019, 2014)
- Global Competition Review" GCR 100 Global Elite" (2012-2013; 2015-2019)
- Ranked among the world's top 25 antitrust practices
- Chambers USA, Antitrust (2019)
- Chambers Global, Competition/European Law (2018-2020)
- Chambers Europe, Competition/European Law (2018-2020)
- FT Innovative Lawyer Awards, "Highly Commended" in the category "Creating a new standard" (2018)
- Belgian Legal Awards, "Best Competition and Antitrust Law Firm" (2017)
- Am Law Litigation Daily, Sturgis Sobin, Derek Ludwin, and James O'Connell, “Litigators of the Week“ (11/18/2016)
- Global Competition Review, ranked among the "Elite" antitrust practices in Washington, DC (2015, 2018)
- Global Competition Review Awards 2015 - shortlisted in the following categories:
- Behavioral Matter of the Year - Europe
- Merger Control Matter of the Year - Europe
- Matter of the Year

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