Apresentação
Este é um informativo diário que traz para o(a) leitor (a) notícias e casos de defesa da concorrência das principais jurisdições antitruste do mundo (CADE, FTC, Comissão Europeia, CMA etc).
Notícias
Justice Department Sues to Block Global Business Travel Group’s Proposed Acquisition of CWT Holdings
Friday, January 10, 2025Share 
For Immediate Release
Office of Public Affairs
$570M Acquisition Would Allow the World’s Largest Travel Management Company to Eliminate its Second-Largest Rival, Limiting Travel Management Options for American Businesses
The Justice Department filed a civil antitrust lawsuit today to stop Global Business Travel Group Inc. (Amex GBT), the largest business travel management company in the world, from acquiring its rival, CWT Holdings LLC (CWT), the third-largest business travel management company in the world. The complaint, filed today in the U.S. District Court for the Southern District of New York, alleges that the proposed $570 million transaction — Amex GBT’s fifth acquisition of another travel management company since 2018 — would harm competition for business travel management services to U.S. global and multinational businesses.
“American businesses rely on travel management companies to connect employees, control travel costs, make travel booking and expense management easier, and ensure their employees’ safety during travel,” said Acting Assistant Attorney General Doha Mekki of the Justice Department’s Antitrust Division. “This acquisition is the latest in a series of acquisitions by Amex GBT that will further consolidate an already consolidated market with only a handful of competitive options capable of serving customers with the most need for travel management services. American businesses will face the consequences, seeing higher prices, less innovation and fewer choices.”
As alleged in the complaint, Amex GBT and CWT anticipated that the proposed acquisition would harm competition and benefit the merged firm at the expense of its customers. The complaint alleges that senior Amex GBT executives viewed the acquisition as an opportunity for “consolidation” of the market for business travel management services for global and multinational customers and a respite from its recent customer losses to CWT. The complaint further alleges that Amex GBT recognized that its valuation of the proposed acquisition should reflect the financial benefit of avoiding future loss business to CWT. For example, its CEO wrote to its president that the company “need[ed] to consider how much we might lose to [CWT] each year in a [business as usual] scenario.” During deal negotiations, CWT’s owners likewise believed Amex GBT should pay a higher price for CWT in recognition of the increased revenues Amex GBT would enjoy post-merger due to the reduction in “price pressure” from “removing [a] big competitor.”
The complaint alleges that the combination of Amex GBT and CWT would combine two of the three largest players in business travel management services for global and multinational companies located in the United States, giving the combined firm a significant share in a market that one of the largest owners of CWT has acknowledged is “oligopolistic.” Few other companies can effectively provide travel management services to global and multinational companies located in the United States at the scale of Amex GBT and CWT.
Today, Amex GBT and CWT compete fiercely to provide travel management services for large businesses and those with complex travel needs. CWT had recently begun pursuing new and innovative strategies to improve service and reduce prices in order to win over business from Amex GBT. As a result, Amex GBT recently lost several significant bid opportunities for large business customers to CWT. If Amex GBT is permitted to acquire CWT, this intense competition would be lost, risking higher prices, less innovation and fewer choices — costs that will be borne by the many businesses and employees for whom these services are critical to their productivity and operations.
Amex GBT is a publicly traded Delaware corporation with its principal executive office located in New York City and its operational headquarters located in London. In 2023, Amex GBT managed a total transaction value of approximately $28.2 billion, earning revenues of $2.29 billion.
CWT is a privately held company headquartered in Minnetonka, Minnesota. In 2023, CWT managed a total transaction volume of approximately $14 billion, earning revenues of about $850 million.
Updated January 10, 2025
Topic
Antitrust
Component
Antitrust Division Press Release Number: 25-36
Former President of Asphalt Paving Company Pleads Guilty to Bid Rigging
Friday, January 10, 2025Share
For Immediate Release
Office of Public Affairs
Seventh Individual Pleads Guilty in Ongoing Investigation of Collusion Involving Michigan-Area Asphalt Industry
The former president of a Michigan asphalt paving company pleaded guilty Wednesday for his role in a conspiracy to rig bids for asphalt paving services contracts in Michigan.
According to court documents filed in the U.S. District Court for the Eastern District of Michigan, Timothy Baugher, former president of Pontiac-based Asphalt Specialists LLC (ASI), conspired with F. Allied Construction Company Inc. (Allied), and employees from those companies to rig bids in each other’s favor. Baugher participated in the conspiracy from July 2017 through May 2021.
Wednesday’s guilty plea is the 10th in the Antitrust Division’s ongoing investigation into collusion in the Michigan asphalt paving industry. Baugher’s former employer, ASI, and another former ASI executive also pleaded guilty for their participation in the conspiracy with Allied in January 2024. Allied and two of its executives previously pleaded guilty in August 2023 for their participation in the conspiracy. On Aug. 15, 2024, ASI was sentenced to pay a fine of $6,500,000.
Under the terms of the conspiracy, the co-conspirators coordinated each other’s bid prices so that the agreed-upon losing company would submit intentionally non-competitive bids. These bids gave customers the false impression of competition when, in fact, the co-conspirators already had decided among themselves who would win the contracts.
“Americans deserve to pay a fair, competitive price to fix transportation infrastructure,” said Acting Assistant Attorney General Doha Mekki of the Justice Department’s Antitrust Division. “The division and our law enforcement partners will continue to hold accountable executives who cheat consumers by undermining the competitive process.”
“Fair and open marketplace competition is essential in providing consumers and taxpayers the integrity expected in procuring contracts funded with public dollars” said Special Agent in Charge Anthony Licari of the Department of Transportation’s Office of Inspector General, Midwestern Region. “Corporate executives who collude to fixing prices and rigging bids will be held accountable.”
“Activities related to bid-rigging and collusion do not promote an environment conducive to open competition which harms the consumer,” said Executive Special Agent in Charge Kenneth Cleevely of the U.S. Postal Service Office of Inspector General. “The guilty plea in this case represents a win for all law enforcement agencies who investigate those who engage in this type of harmful conduct to ensure that justice is served.”
Baugher pleaded guilty to one count of violating Section 1 of the Sherman Act. He faces a maximum penalty of 10 years in prison and a $1 million criminal fine for the charge. The maximum penalty for corporations is a $100 million criminal fine. The fine may be increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime if either amount is greater than the statutory maximum fine. A sentencing hearing will be scheduled at a later date. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
Wednesday’s guilty plea resulted from an ongoing federal antitrust investigation into bid rigging and other anticompetitive conduct in the asphalt paving services industry being conducted by the Antitrust Division’s Chicago Office and the Offices of Inspectors General for the U.S. Department of Transportation and U.S. Postal Service.
Anyone with information in connection with this investigation should contact the Antitrust Division’s Complaint Center at 888-647-3258 or visit www.justice.gov/atr/report-violations.
Updated January 10, 2025
Topic
Antitrust
Component
Antitrust Division Press Release Number: 25-41
FTC Announces 2025 Jurisdictional Threshold Updates for Interlocking Directorates
Tags:
The Federal Trade Commission has approved revised jurisdictional thresholds for Section 8 of the Clayton Act, which prohibits interlocking directorates, which is an arrangement that occurs when an officer or director of one firm simultaneously serves as an officer or director of a competing firm.For 2025, thresholds under Section 8 of the Act that trigger prohibitions on certain interlocking memberships on corporate boards of directors are $51,380,000 for Section 8(a)(l) and $5,138,000 for Section 8(a)(2)(A).
The thresholds for Section 8 of the Clayton Act become effective upon their publication in the Federal Register. A complete listing of current thresholds can be found on the FTC’s website, and will be updated closer to the time they become effective.
The vote approving the Federal Register notice announcing the threshold revisions was 5-0.
The Federal Trade Commission works to promote competition, and protect and educate consumers. The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. You can learn more about how competition benefits consumers or file an antitrust complaint. For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.
Contact Information
Media Contact
Office of Public Affairs
415-848-5121
FTC Announces 2025 Update of Size of Transaction Thresholds for Premerger Notification Filings
Tags:
The Federal Trade Commission has approved a revised jurisdictional and a revised filing fee schedule for the Hart‑Scott‑Rodino (HSR) Antitrust Improvements Act of 1976. Section 7A(a)(2) of the Act requires the Commission to revise the jurisdictional thresholds annually, based on the change in gross national product. The FTC is also required to revise the related HSR filing fee schedule annually based on changes in the gross national product and in the consumer price index under Division GG of the 2023 Consolidated Appropriations Act.
For 2025, the size-of-transaction threshold for reporting proposed mergers and acquisitions under Section 7A of the Clayton Act will adjust from $119.5 million to $126.4 million.
The revised jurisdictional thresholds and filing fee schedule will apply to all transactions that close on or after the effective date of the notice, which is 30 days after its publication in the Federal Register.
The vote approving the Federal Register Annual Notice of Revision announcing the new HSR jurisdictional thresholds and filing fee schedule was 5-0.
The Federal Trade Commission works to promote competition, and protect and educate consumers. The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. You can learn more about how competition benefits consumers or file an antitrust complaint. For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.
Contact Information
Media Contact
Office of Public Affairs
415-848-5121
Decisões
CADE
Ato de Concentração nº 08700.000042/2025-21
Requerentes: Qatar Holding LLC, Audi AG e Sauber Holding AG. Aprovação sem restrições.
Ato de Concentração nº 08700.010706/2024-80
Requerentes: ADNOC International Germany Holding AG e Covestro AG. Aprovação sem restrições.
Ato de Concentração nº 08700.000039/2025-16
Requerentes: Voltalia Energia do Brasil Ltda. e EOL Maral III SPE S.A. Aprovação sem restrições.
Ato de Concentração nº 08700.010600/2024-86
Requerentes: Vale S.A. e Ferro + Mineração S.A. Aprovação sem restrições.
Ato de Concentração nº 08700.010914/2024-89
Partes: Tropical Indústria de Alimentos S/A e Incrível Comércio de Bebidas e Alimentos S.A. Aprovação sem restrições.
Ato de Concentração nº 08700.010766/2024-01
No Despacho SG nº 49/2024, de 08 de janeiro de 2025 (SEI nº 1498321), publicado no DOU em 10 de janeiro de 2025, Edição nº 7, Seção 1, página 42, onde se lê: “Cotrasa Veículos e Serviços Ltda., Empreendedor Brasil – Fundo de Investimento em Participações Multiestratégia, Brasil Portos e Ativos Logísticos – Fundo de Investimento em Participação Multiestratégia, N.O.G.S.P.E Empreendimentos e Participações S.A., Portinvest Participações S.A., Itapoá Terminais Portuários S.A., LOGZ Logística Brasil S.A., SATI RJ Participações S.A. e Regina Indústria e Comércio S.A. Advogados: Bruno Drago, Mariana Llamazalez Ou, Rodrigo Zilio, Luis Nagalli, Julia Haddad Niemeyer e Sofia Esmanhoto Andrioli. Decido pela aprovação sem restrições.”, leia-se: “Ato de Concentração nº 08700.010766/2024-01. Partes: Cotrasa Veículos e Serviços Ltda., Empreendedor Brasil – Fundo de Investimento em Participações Multiestratégia, Brasil Portos e Ativos Logísticos – Fundo de Investimento em Participação Multiestratégia, N.O.G.S.P.E Empreendimentos e Participações S.A., Portinvest Participações S.A., Itapoá Terminais Portuários S.A., LOGZ Logística Brasil S.A., SATI RJ Participações S.A. e Regina Indústria e Comércio S.A. Advogados: Bruno Drago, Mariana Llamazalez Ou, Rodrigo Zilio, Luis Nagalli, Julia Haddad Niemeyer e Sofia Esmanhoto Andrioli. Decido pela aprovação sem restrições.”.
Comissão Europeia
DELI HOME / HWI / HOUTWERF / DISTRI-HOUT
Merger
Last decision date: 10.01.2025
CMA
Global Business Travel Group, Inc / CWT Holdings, LLC merger inquiry
- The Competition and Markets Authority (CMA) is investigating the anticipated acquisition by Global Business Travel Group, Inc of CWT Holdings, LLC.
- Updated: 10 January 2025
Investigation into suspected anti-competitive conduct by housebuilders
- The CMA is investigating suspected exchanges of competitively sensitive information by 8 housebuilders in Great Britain under the Competition Act 1998.
- Updated: 10 January 2025
Autorité de la Concurrence
Secteur(s) :
25-DCC-05
relative à la prise de contrôle conjoint de la société Chrisamp par les sociétés Monnarie et ITM Entreprises
Décision de contrôle des concentrations|
Publication du sens de la décision le : 10 janvier 2025