The antitrust/competition agencies from the United States and the European Union recently published a revised set of Best Practices on Cooperation in Merger Investigations (the "Best Practices"). The Best Practices address both the filing stage and the investigation stage of merger review and acknowledge that the success of such cooperation is largely in the hands of the parties themselves. The Best Practices provide detailed guidance on how and when firms can seek, and facilitate coordination of, the review of transactions by the US and EU agencies, and clarity on how the US and EU agencies would coordinate their investigation of transactions, including at the stage of designing and implementing remedies.

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