Mike Cowie

Partner | 
T: +1 202 261 3339
F: +1 202 261 3333

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Mike Cowie guides industry leaders past antitrust obstacles, enabling them to grow their business and protect their strategic interests. Mr. Cowie has handled transformative transactions for some of the world’s largest and most successful companies. His advice builds upon insights gained while directing precedent-setting investigations for the government.

Mr. Cowie previously served in the Federal Trade Commission’s Bureau of Competition as Assistant Director, where he managed a 25-attorney team responsible for antitrust merger investigations. Mr. Cowie also served as the FTC’s Senior Litigation Counsel responsible for leading the Commission’s antitrust litigation. He received several honors from the FTC, including the Commission’s Meritorious Service and Superior Service awards. He has been called upon for expert antitrust testimony in hearings before the U.S. Congress, state legislature, and federal agencies.

Significant Representations

  • Led the antitrust team for Medco in its merger with Express Scripts, the largest deal (at US$34 billion) of 2012. This deal closed unconditionally following “an intensive 8 month investigation” by the FTC and over 30 State AGs, two Congressional hearings, opposition by over 80 members of Congress, and an unsuccessful last-minute lawsuit by competitors.
  • Represented GE in a DOJ second request investigation and three week trial in federal court over the US$3.3 billion sale of its appliance business to Electrolux. Before the trial ruling, GE terminated the transaction, received a US$175 million break fee, and announced the sale of the business to another buyer for US$5.4 billion.
  • Led the antitrust team helping CVS Health become the largest U.S. pharmacy through its US$1.8 billion acquisition of Target’s pharmacy business. This stands out as one of the few major retail sector deals in which the FTC conducted a second request investigation and approved with zero divestitures.
  • Led the antitrust team helping CVS become the largest U.S. institutional pharmacy through its US$12.7 billion acquisition of Omnicare. The FTC approved the acquisition without a second request despite a public opposition campaign calling on the FTC to issue a second request and block the deal.
  • Guided Whirlpool in obtaining unconditional clearance to acquire Maytag following an investigation DOJ has described as “thorough,” “much discussed,” and “closely watched.”
  • Represented OfficeMax in its merger with Office Depot, a combination that received unconditional clearance following an FTC second-request investigation focusing on a “3-to-2” theory. 
  • Led the antitrust team for Buckeye in its US$1.5 billion merger with Georgia-Pacific. The merger received unconditional clearance despite a second request investigation and press attention on the merger agreement’s “target on the back” divestiture commitments.
  • Led the work for Beam in a merger combining leading bourbon brands – Jim Beam, Maker’s Mark, and Knob Creek. The agencies have highlighted this merger to “illustrate” how companies can dispel allegations of “unilateral market power.”
  • Helped Cargill complete its acquisition of Continental Grain despite an extensive DOJ and State AG investigation and vocal opposition from Congress and farming groups. This is the “prominent” (DOJ) merger precedent on how the agencies assess monopsony.
  • Led the FTC’s Evanston Northwest/Highland Park consummated merger investigation, ending the agencies’ streak of hospital merger losses.
  • Led the FTC’s successful “superpremium ice cream” challenge – now highlighted by the agencies to show when they will adopt narrow markets.
  • Led the FTC’s successful challenge to the Quest-Unilab merger – now highlighted by the agencies to show when they will find price discrimination markets.
  • Led the FTC’s successful MSC Software litigation, a test case demonstrating the agencies’ willingness to litigate and unwind a non-reportable merger.


Hobart and William Smith Colleges, B.A., Economics, 1986, magna cum laude, Phi Beta Kappa, Honors in Economics, Omicron Delta Epsilon Economics Honorary Society
Georgetown University Law Center, J.D., 1989, cum laude, Editor of The Georgetown Law Journal

Bar Admissions/Qualifications

District of Columbia


Member, Long Range Planning Committee (2016), Foreign Investment and Antitrust Interface Task Force (2013-2015)
Vice Chair, American Bar Association, Antitrust Programs (2011-2013), Mergers & Acquisition Committee (2008-2010)
Editorial Board, Competition Law 360 (2011-2013)
Editor, Antitrust Law Journal, Antitrust Magazine, and The Antitrust Source (1997-2005)
Chair, Antitrust Committee, ABA’s Administrative Law Section (2004-2005)