Mergers are challenged by the federal government—either the Department of Justice or the Federal Trade Commission—when the government believes the transaction may substantially lessen competition. Should the government consider a merger anticompetitive, it will seek whatever remedy, through consent decree with the parties or filing suit to enjoin a merger, it deems necessary. The outcomes of a merger investigation can be viewed on a spectrum. On one end, the government wholly blocks the transaction; on the other end, the government allows consummation of the deal free and clear of conditions and encumbrances. The remedy the government may seek is case dependent and fact-specific and the "touchstone principle for the [DOJ] in analyzing remedies is that a successful merger remedy must effectively preserve competition in the relevant market. That is the appropriate goal of merger enforcement."
