#368 Mother, May I? The Use of Prior Approval Requirements in Merger Settlements

Over the last few decades, prior approval requirements were considered an extraordinary remedy in merger settlements, yet their use has fluctuated in agency enforcement across recent administrations. Where do the FTC and DOJ stand in their current practice? Bilal Sayyed, a Counsel at the Cadwalader law firm, and antitrust professor and former FTC policy leader, speaks with Anora Wang and Jeny Maier about the role of prior approval provisions in modern merger enforcement and what their recent rise—and retreat—signals about agency policy. Listen to this episode to learn how prior approval differs from traditional HSR review, when agencies have relied on such provisions, and what the evolving approach means for merging parties and future dealmaking.

With special guest: Bilal Sayyed, Counsel, Cadwalader, Wickersham & Taft Related Links: 2021 FTC Statement on Use of Prior Approval Provisions in Merger Orders

Bilal Sayyed, U.S. Antitrust Agency Merger Roundup & Commentary: FTC Reverses Routine Use of Prior Approval Requirements in Merger Settlements, Trump Antitrust Leadership Continues Departure from Antitrust Merger Policies of Previous Administration (July 15, 2025)

Hosted by: Anora Wang, Arnold & Porter and Jeny Maier, Axinn, Veltrop & Harkrider