Our Curious Amalgam

August marks the beginning of a new ABA Antitrust Law Section year under the leadership of a new Chair. In this episode, co-hosts Anora Wang and Alicia Downey talk with Sullivan & Cromwell partner Renata Hesse, a longtime Section leader whose term as Chair began in August 2025. Our other featured guest is Renata's colleague Dan Richardson, who supports Renata as Counsel to the Chair. Listen to this episode to hear about Renata's priorities and goals for the 2025-26 year, and her commitment to ensuring that the Section serves as a forum for open dialogue and civil debates. With special guests: Renata B. Hesse, Sullivan & Cromwell LLP and Daniel J. Richardson, Sullivan & Cromwell LLP Hosted by: Anora Wang, Arnold & Porter Kaye Scholer LLP and Alicia Downey, Downey Law LLC

Meet Michael Weeldreyer, a U.S. Navy veteran turned defense industry senior manager, and Tara Koslov, a former deputy director at the FTC, both rocking out as part of Side Hustle. They dive into the origins of their unique band formed by antitrust lawyers, recount hilarious jam sessions, and discuss their eclectic set list spanning seven decades. Discover how live performances invigorate their hectic lives and the sheer joy they aim to bring audiences, all while balancing their serious day jobs in law.

Debbie Majoras, former FTC Chair and DOJ Antitrust Division Deputy Assistant Attorney General, shares her extensive experience in antitrust enforcement. She discusses the historical reasons for having both the DOJ and FTC and the cultural differences that influence their approaches. Debbie highlights the challenges related to agency jurisdiction and the impact of their distinct statutory powers on businesses. She also offers valuable advice for future enforcers, emphasizing the importance of consumer welfare and transparency in enforcement.

Innovation is central to long-term economic welfare and deserves greater emphasis in antitrust policy. But can U.S. antitrust law be reshaped to be more innovation-centric? Professor Richard Gilbert joins hosts Anora Wang and Panos Dimitrellos to examine the relationship between competition and innovation, how agencies and courts have recently treated innovation, and practical tools for assessing innovation effects in mergers and conduct cases. Listen to this episode to learn more about navigating the shift toward an innovation-centric antitrust regime, the empirical methods that can reveal innovation harms, and how to balance short-term price effects against long-term technological progress. With special guest: Richard J. Gilbert, Professor, University of California at Berkeley Related Links: https://direct.mit.edu/books/oa-monograph/4844/Innovation-MattersCompetition-Policy-for-the-High https://www.americanbar.org/content/dam/aba/publications/antitrust/journal/86/issue-3/antitrust-for-innovation.pdf https://eml.berkeley.edu/~gilbert/Selected%20Papers/Gilbert-Melamed%20final%20pre-publication.pdf Hosted by: Panos Dimitrellos, Secretariat Economists LLC and Anora Wang, Arnold & Porter Kaye Scholer LLP

Merger control regulators in the EU and around the world continue to focus on killer acquisitions. But is this concern justified in the digital sector? Professor Nicolas Petit, a leading competition law academic, joins Matthew Hall and Blair Matthews to discuss the Antitrust Law Journal article on the subject he co-authored and killer acquisitions generally. Listen to this episode to learn more about the methodology behind and findings in the paper and why the concerns on this issue may not be justified. With special guest: Professor Nicolas Petit, Professor, European University Institute; Visiting Professor, George Mason University, Scalia School of Law Related Links: Killer Acquisitions: Evidence from European Merger Cases, Antitrust Law Journal, Volume 86, Issue 3, 22 May 2025 (subscribers) Federal Trade Commission press release, FTC Seeks to Block Virtual Reality Giant Meta’s Acquisition of Popular App Creator Within, 27 July 2022 Federal Trade Commission amended complaint against Meta, 7 October 2022 Hosted by: Matthew Hall, McGuireWoods London LLP and Blair West Matthews, Cleary Gottlieb

Merger litigation is fast, high-stakes, and often unpredictable. So what does it take to win—or avoid losing—when the government challenges a deal? In this episode, Puja Patel and James Hunsberger are joined by Kieran Gostin, a partner at Wilkinson Stekloff and a seasoned merger trial lawyer who helped Microsoft defeat the FTC in its challenge to the Activision acquisition. From trial preparation strategy to expert witness credibility, internal documents versus economic modeling, and real-world lessons from Microsoft/Activision, the conversation covers both foundational insights and tactical advice. Listen in to learn what parties, practitioners, and economists need to consider long before a complaint is ever filed—and what really moves the needle in court. With special guest: Kieran Gostin, Partner, Wilkinson Stekloff Hosted by: Puja Patel, Cleary Gottlieb Steen & Hamilton LLP and James Hunsberger, Axinn, Veltrop & Harkrider LLP

Antitrust enforcement can change dramatically between Presidential administrations. What makes the political winds flip between more and less enforcement? In this episode, former Deputy Assistant Attorney General Michael Kades joins hosts Anant Raut and Anna Olson to step back and draw insightful themes from the history of antitrust enforcement across Presidential administrations. With special guest: Michael Kades, Partner, Nachawati Law Group Hosted by: Anant Raut and Anna Olson

Among the recent amendments to Canada's Competition Act are new provisions targeting so-called “greenwashing,” i.e., misleading claims in advertising regarding the environmental benefits of a product. In a related development, the Competition Bureau has issued guidelines concerning its enforcement approach to environmental claims under the new law. What will be the impact of the changes on companies and consumers? In this episode, Alicia Downey and Anora Wang talk to Canadian consumer protection lawyer Candice Kloes about the amendments, the guidelines, and the increased risks and compliance burdens posed by public-facing environmental claims in Canada. With special guest: Candice Kloes, Counsel, Borden Ladner Gervais LLP Related Links: Dionysios Rossi, Denes A. Rothschild, Candice Kloes, Roark Lewis, and Jessica Hennings, “False advertising and greenwashing: Bill C-59 changes to Competition Act” (July 2024) Candice Kloes, Roark Lewis, Denes A. Rothschild, Rick Williams, and Sadie Glickman, Canada's greenwashing crackdown: New guidelines & private right of action (July 2025) Canada’s Zero Plastic Waste Agenda Hosted by: Alicia Downey, Downey Law LLC and Anora Wang, Arnold & Porter Kaye Scholer LLP

In June 2025, the European Commission announced a decision under which it fined two competing online food delivery companies a combined total of €329 million for cartel behaviour that took place while one company held a minority stake in the other company. The infringing behaviour included, among other things, exchanging competitively sensitive information “beyond what was needed for a corporate investor to protect a financial investment decision.” Does the Delivery Hero/Glovo decision suggest that minority shareholdings may be subject to stricter scrutiny going forward? Hosts Matthew Hall and Alicia Downey talk to Brussels-based competition lawyer Peter Camesasca about what the decision means and its practical implications for compliance counseling. With special guest: Peter D. Camesasca, Ph.D., Advokaat BVBA Related Links: Peter Camesasca, Minority Stakes as a Conduit for Cartelization, and No Poach to Boot: The EU Decision in Delivery Hero/Glovo European Commission press release (2 June 2025) Commissioner Ribera remarks (2 June 2025) Hosted by: Matthew Hall, McGuireWoods London LLP and Alicia Downey, Downey Law LLC

There is a growing interest in understanding the economics of serial acquisitions, particularly in the healthcare industries and markets, and whether such corporate strategies lead to changes in prices and quality causing antitrust concerns. What has been found in existing economic studies? Paul Eliason, Assistant Professor of Economics at Brigham Young University and co-author of a leading study on serial acquisitions focusing on the dialysis industry, discusses his observations and insights with Anora Wang and Derek Jackson. Listen to this episode to learn about the knowns and unknowns from the empirical evidence as well as implications for competition policy. With special guest: Dr. Paul Eliason, Assistant Professor of Economics, Brigham Young University Related Links: How Acquisitions Affect Firm Behavior and Performance: Evidence from the Dialysis Industry, Journal of Quarterly Economics Hosted by: Anora Wang, Arnold & Porter Kaye Scholer LLP and Derek Jackson, Cohen & Gresser LLP